Marzetti (NASDAQ:MZTI) CEO Luis Viso Sells 997 Shares of Stock

Key Points

• CEO Luis Viso sold 997 Marzetti shares at an average price of $100.81, totaling approximately $100,508. The transaction reduced his direct ownership by 48.78%, leaving him with 1,047 shares.
• Marzetti shares rose 2.5% to $104.05, while the company recently reported quarterly EPS of $1.46 on revenue of $465.03 million.
• The company declared a quarterly dividend of $1.00, equivalent to $4.00 annually and a 3.8% yield. Analysts maintain a cautious outlook, with a consensus “Reduce” rating and an average price target of $135.

The Marzetti Company (NASDAQ:MZTI - Get Free Report) CEO Luis Viso sold 997 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $100.81, for a total value of $100,507.57. Following the completion of the transaction, the chief executive officer directly owned 1,047 shares in the company, valued at $105,548.07. This trade represents a 48.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Marzetti Stock Up 2.5%

MZTI traded up $2.58 during trading on Friday, hitting $104.05. 454,687 shares of the company's stock traded hands, compared to its average volume of 310,288. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 14.93 and a beta of 0.35. The company's 50 day simple moving average is $110.96 and its two-hundred day simple moving average is $123.12. The Marzetti Company has a 12-month low of $100.20 and a 12-month high of $185.27. The company has a current ratio of 1.56, a quick ratio of 0.67 and a debt-to-equity ratio of 0.18.

Marzetti (NASDAQ:MZTI - Get Free Report) last posted its quarterly earnings results on Tuesday, August 25th. The company reported $1.46 earnings per share for the quarter. The firm had revenue of $465.03 million during the quarter. Marzetti had a return on equity of 18.22% and a net margin of 9.93%.

Marzetti Announces Dividend

• Lancaster Colony Corporation NASDAQ: LANC Is About To Raise The Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, September 8th. Marzetti's dividend payout ratio (DPR) is presently 57.39%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of Marzetti by 3.8% during the 1st quarter. Royal Bank of Canada now owns 32,626 shares of the company's stock valued at $5,710,000 after purchasing an additional 1,186 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Marzetti by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,637 shares of the company's stock valued at $2,036,000 after buying an additional 500 shares during the period. Goldman Sachs Group Inc. grew its position in Marzetti by 16.1% during the first quarter. Goldman Sachs Group Inc. now owns 221,350 shares of the company's stock valued at $38,736,000 after buying an additional 30,731 shares during the period. United Services Automobile Association purchased a new stake in Marzetti during the first quarter valued at approximately $231,000. Finally, Empowered Funds LLC purchased a new stake in Marzetti during the first quarter valued at approximately $2,310,000. Institutional investors own 66.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MZTI shares. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Marzetti in a report on Monday, August 17th. Stephens restated an "equal weight" rating and set a $140.00 price objective on shares of Marzetti in a research report on Wednesday, August 26th. Finally, DA Davidson dropped their target price on shares of Marzetti from $168.00 to $130.00 and set a "neutral" rating on the stock in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Marzetti currently has a consensus rating of "Reduce" and an average price target of $135.00.

About Marzetti

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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