William Blair Investment Management LLC Has $150.89 Million Stake in The Marzetti Company $MZTI

Key Points

• William Blair Investment Management LLC raised its stake in The Marzetti Company by 21.2%, now holding approximately $150.89 million in shares.
• Marzetti reported better-than-expected earnings, with an EPS of $1.33 for the last quarter, surpassing estimates of $1.31, and a revenue of $475.43 million.
• The company declared a quarterly dividend of $0.95, representing an annual yield of 2.3% with a payout ratio of 62.60%.

William Blair Investment Management LLC increased its position in The Marzetti Company (NASDAQ:MZTI - Free Report) by 21.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 873,357 shares of the company's stock after buying an additional 153,052 shares during the quarter. William Blair Investment Management LLC owned 3.17% of Marzetti worth $150,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MZTI. Boston Trust Walden Corp raised its position in shares of Marzetti by 14.7% in the 2nd quarter. Boston Trust Walden Corp now owns 344,605 shares of the company's stock worth $59,537,000 after acquiring an additional 44,279 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Marzetti by 16.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 221,350 shares of the company's stock valued at $38,736,000 after purchasing an additional 30,731 shares during the period. Invesco Ltd. raised its holdings in Marzetti by 6.4% during the first quarter. Invesco Ltd. now owns 200,873 shares of the company's stock worth $35,153,000 after buying an additional 12,015 shares during the last quarter. Bahl & Gaynor Inc. lifted its position in Marzetti by 14.6% in the 1st quarter. Bahl & Gaynor Inc. now owns 181,084 shares of the company's stock valued at $31,690,000 after acquiring an additional 23,027 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Marzetti by 8.8% during the first quarter. Envestnet Asset Management Inc. now owns 146,281 shares of the company's stock valued at $25,599,000 after buying an additional 11,790 shares during the last quarter. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Marzetti Stock Performance

MZTI opened at $168.33 on Friday. The Marzetti Company has a 52-week low of $156.14 and a 52-week high of $202.63. The stock has a market capitalization of $4.63 billion, a P/E ratio of 27.73 and a beta of 0.43. The company's 50-day simple moving average is $176.61 and its two-hundred day simple moving average is $174.18.

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

Marzetti Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 8th were given a $0.95 dividend. The ex-dividend date was Monday, September 8th. This represents a $3.80 annualized dividend and a yield of 2.3%. Marzetti's dividend payout ratio (DPR) is currently 62.60%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MZTI. Weiss Ratings reiterated a "hold (c)" rating on shares of Marzetti in a report on Tuesday. Stephens reaffirmed an "equal weight" rating and set a $190.00 target price on shares of Marzetti in a report on Thursday, September 11th. Finally, Benchmark upped their target price on Marzetti from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.

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