The Marzetti Company $MZTI Holdings Boosted by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in The Marzetti Company (NASDAQ:MZTI) by 18.0%, owning a total of 12,710 shares valued at $2,224,000 as of the end of the most recent quarter.
• Marzetti's quarterly earnings surpassed expectations with $1.33 earnings per share, beating the consensus estimate of $1.31, and revenues reported at $475.43 million.
• The company declared a $0.95 dividend to be paid on September 30th, representing an annualized yield of 2.1% with a payout ratio of 62.60%.

Wellington Management Group LLP grew its position in The Marzetti Company (NASDAQ:MZTI - Free Report) by 18.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,710 shares of the company's stock after purchasing an additional 1,939 shares during the period. Wellington Management Group LLP's holdings in Marzetti were worth $2,224,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MZTI. Nuveen LLC bought a new position in shares of Marzetti in the 1st quarter worth $10,456,000. GAMMA Investing LLC raised its position in shares of Marzetti by 19,025.0% in the 1st quarter. GAMMA Investing LLC now owns 53,550 shares of the company's stock worth $9,371,000 after acquiring an additional 53,270 shares in the last quarter. AQR Capital Management LLC increased its stake in Marzetti by 89.1% during the 4th quarter. AQR Capital Management LLC now owns 105,560 shares of the company's stock valued at $18,277,000 after purchasing an additional 49,734 shares in the last quarter. Man Group plc boosted its holdings in shares of Marzetti by 366.6% in the 4th quarter. Man Group plc now owns 50,241 shares of the company's stock worth $8,699,000 after buying an additional 39,474 shares during the last quarter. Finally, Algert Global LLC lifted its position in shares of Marzetti by 368.5% during the first quarter. Algert Global LLC now owns 48,672 shares of the company's stock worth $8,518,000 after acquiring an additional 38,282 shares in the last quarter. Institutional investors own 66.44% of the company's stock.

Marzetti Trading Up 0.8%

Shares of MZTI stock traded up $1.44 during mid-day trading on Friday, reaching $185.35. The stock had a trading volume of 27,851 shares, compared to its average volume of 161,278. The business's fifty day moving average is $176.42 and its 200-day moving average is $176.54. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 30.54 and a beta of 0.43. The Marzetti Company has a 1-year low of $156.14 and a 1-year high of $202.63.

Marzetti (NASDAQ:MZTI - Get Free Report) last issued its quarterly earnings results on Thursday, August 21st. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.02. The company had revenue of $475.43 million for the quarter, compared to the consensus estimate of $455.26 million. Marzetti had a return on equity of 18.87% and a net margin of 8.77%.Marzetti's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.34 earnings per share. On average, analysts forecast that The Marzetti Company will post 6.8 earnings per share for the current year.

Marzetti Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $3.80 annualized dividend and a dividend yield of 2.1%. Marzetti's payout ratio is 62.60%.

Analyst Ratings Changes

A number of analysts recently commented on MZTI shares. Stephens reaffirmed an "equal weight" rating and issued a $190.00 price target on shares of Marzetti in a research note on Thursday, August 28th. Benchmark raised their price objective on shares of Marzetti from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $206.00.

Marzetti Company Profile

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.