The Marzetti Company (NASDAQ:MZTI) Given Average Rating of "Hold" by Analysts

Key Points

• The Marzetti Company (NASDAQ:MZTI) has received an average analyst rating of "Hold," with three analysts recommending a hold and two suggesting a buy, while the average 12-month price target is set at $206.00.
• In the second quarter, institutional investors notably increased their stakes in Marzetti, with William Blair Investment Management growing its position by 21.2%, now owning over 873,000 shares valued at approximately $150.9 million.
• Marzetti recently reported quarterly earnings of $1.33 EPS, exceeding analysts' expectations, and announced a quarterly dividend of $0.95, which equates to an annualized yield of 2.3%.

Shares of The Marzetti Company (NASDAQ:MZTI - Get Free Report) have been given an average recommendation of "Hold" by the five analysts that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $206.00.

MZTI has been the subject of a number of analyst reports. Stephens reiterated an "equal weight" rating and set a $190.00 price target on shares of Marzetti in a research report on Thursday, September 11th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Marzetti in a research report on Saturday, September 27th. Finally, Benchmark upped their price objective on Marzetti from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, August 22nd.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. William Blair Investment Management LLC grew its position in Marzetti by 21.2% in the second quarter. William Blair Investment Management LLC now owns 873,357 shares of the company's stock worth $150,890,000 after buying an additional 153,052 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Marzetti by 14.7% during the second quarter. Boston Trust Walden Corp now owns 344,605 shares of the company's stock valued at $59,537,000 after purchasing an additional 44,279 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of 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 purchasing an additional 30,731 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Marzetti by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 212,720 shares of the company's stock valued at $36,752,000 after purchasing an additional 1,707 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Marzetti by 6.4% during the first quarter. Invesco Ltd. now owns 200,873 shares of the company's stock valued at $35,153,000 after purchasing an additional 12,015 shares during the last quarter. Institutional investors and hedge funds own 66.44% of the company's stock.

Marzetti Price Performance

NASDAQ:MZTI traded down $2.20 during midday trading on Friday, reaching $168.50. 105,519 shares of the company traded hands, compared to its average volume of 131,773. Marzetti has a twelve month low of $156.14 and a twelve month high of $202.63. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 27.76 and a beta of 0.43. The company has a fifty day moving average price of $178.44 and a 200 day moving average price of $174.90.

Marzetti (NASDAQ:MZTI - Get Free Report) last announced 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. Marzetti had a return on equity of 18.87% and a net margin of 8.77%.The company had revenue of $475.43 million during the quarter, compared to analyst estimates of $455.26 million. During the same quarter in the previous year, the firm posted $1.34 EPS. The firm's quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts forecast that Marzetti will post 6.8 earnings per share for the current fiscal year.

Marzetti Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th were issued a $0.95 dividend. The ex-dividend date was Monday, September 8th. This represents a $3.80 annualized dividend and a dividend yield of 2.3%. Marzetti's dividend payout ratio is 62.60%.

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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