Marzetti (NASDAQ:MZTI) Hits New 12-Month Low - Here's Why

Key Points

• Marzetti shares hit a new 52-week low, falling to $102.76 intraday from a previous close of $105.39, while trading below both its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: the consensus rating is “Reduce,” with a $135 price target; recent reports included a lowered $130 target and an “equal weight” rating.
• The company reported quarterly revenue of $465.03 million and earnings of $1.46 per share, while declaring a $1.00 quarterly dividend, equivalent to a 3.9% yield.

The Marzetti Company (NASDAQ:MZTI - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $102.76 and last traded at $102.5260, with a volume of 17290 shares traded. The stock had previously closed at $105.39.

Wall Street Analysts Forecast Growth

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

Marzetti Price Performance

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

The company has a market cap of $2.81 billion, a price-to-earnings ratio of 14.77 and a beta of 0.35. The company has a current ratio of 1.56, a quick ratio of 0.67 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average price of $111.74 and a two-hundred day moving average price of $124.41.

Marzetti (NASDAQ:MZTI - Get Free Report) last announced 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 for the quarter. Marzetti had a return on equity of 18.22% and a net margin of 9.93%.

Marzetti Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.9%. Marzetti's dividend payout ratio (DPR) is currently 57.39%.

Insider Activity at Marzetti

In other news, insider Luis Viso sold 1,221 shares of Marzetti stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $109.31, for a total transaction of $133,467.51. Following the completion of the sale, the insider owned 1,924 shares in the company, valued at $210,312.44. The trade was a 38.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 29.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MZTI. CIBC Private Wealth Group LLC bought a new stake in Marzetti in the fourth quarter valued at about $32,000. Parkside Financial Bank & Trust acquired a new position in shares of Marzetti during the 4th quarter worth about $32,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Marzetti in the 4th quarter valued at about $33,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Marzetti in the 4th quarter valued at approximately $35,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Marzetti during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 66.44% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.