Marzetti's (MZTI) Equal Weight Rating Reiterated at Stephens

Key Points

• Stephens has reiterated its "equal weight" rating on Marzetti (NASDAQ:MZTI) with a price target of $190.00, indicating a potential upside of 5.20% from the current price.
• Benchmark increased its target price for Marzetti from $185.00 to $200.00, while the stock has a consensus rating of "Moderate Buy" with an average target price of $206.00.
• Marzetti reported earnings of $1.33 per share, surpassing expectations and showing a 5.0% year-over-year revenue growth, reaching $475.43 million for the quarter.

Marzetti (NASDAQ:MZTI - Get Free Report)'s stock had its "equal weight" rating reissued by Stephens in a research note issued on Thursday,Benzinga reports. They presently have a $190.00 price target on the stock. Stephens' price objective suggests a potential upside of 5.20% from the company's previous close.

Separately, Benchmark lifted their target price on Marzetti from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Marzetti currently has a consensus rating of "Moderate Buy" and an average target price of $206.00.

Marzetti Stock Down 1.0%

Marzetti stock opened at $180.61 on Thursday. Marzetti has a 12-month low of $156.14 and a 12-month high of $202.63. The business's 50-day moving average price is $177.26 and its two-hundred day moving average price is $176.28. The stock has a market cap of $4.97 billion, a PE ratio of 29.75 and a beta of 0.43.

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

Hedge Funds Weigh In On Marzetti

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue lifted its stake in shares of Marzetti by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 2,259 shares of the company's stock worth $395,000 after acquiring an additional 55 shares during the period. Diversified Trust Co boosted its holdings in shares of Marzetti by 2.0% during the 2nd quarter. Diversified Trust Co now owns 3,769 shares of the company's stock worth $651,000 after buying an additional 75 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Marzetti by 3.6% during the 4th quarter. Captrust Financial Advisors now owns 2,323 shares of the company's stock worth $402,000 after buying an additional 80 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in shares of Marzetti by 2.5% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 3,534 shares of the company's stock worth $618,000 after buying an additional 86 shares in the last quarter. Finally, Significant Wealth Partners LLC boosted its holdings in shares of Marzetti by 8.2% during the 2nd quarter. Significant Wealth Partners LLC now owns 1,262 shares of the company's stock worth $218,000 after buying an additional 96 shares in the last quarter. 66.44% of the stock is owned by institutional investors and hedge funds.

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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