Weiss Ratings Reaffirms Hold (C) Rating for Marzetti (NASDAQ:MZTI)

Key Points

• Weiss Ratings reaffirmed a Hold (C) rating for Marzetti (NASDAQ:MZTI), reflecting a cautious outlook amid mixed analyst opinions.
• Marzetti's stock saw a 0.5% decline, trading at $163.21, with a consensus price target of $206.00 from analysts.
• The company reported earnings per share (EPS) of $1.33, exceeding expectations, with a revenue increase of 5% compared to the same quarter last year.

Marzetti (NASDAQ:MZTI - Get Free Report)'s stock had its "hold (c)" rating restated by research analysts at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

MZTI has been the subject of several other research reports. Stephens reissued an "equal weight" rating and issued a $190.00 price target on shares of Marzetti in a report on Thursday, September 11th. Benchmark boosted their price target on shares of Marzetti from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $206.00.

Marzetti Stock Down 0.5%

MZTI stock traded down $0.78 during trading on Tuesday, hitting $163.21. The company had a trading volume of 32,415 shares, compared to its average volume of 156,875. The firm has a 50-day moving average price of $177.46 and a 200-day moving average price of $174.42. Marzetti has a 12 month low of $156.14 and a 12 month high of $202.63. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 26.89 and a beta of 0.43.

Marzetti (NASDAQ:MZTI - Get Free Report) last issued its earnings results on Thursday, August 21st. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.31 by $0.02. The company 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 business's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS. Equities analysts expect that Marzetti will post 6.8 EPS for the current year.

Institutional Investors Weigh In On Marzetti

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in shares of Marzetti by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 212,720 shares of the company's stock worth $36,752,000 after buying an additional 1,707 shares during the last quarter. Moody Aldrich Partners LLC boosted its stake in shares of Marzetti by 50.4% during the 2nd quarter. Moody Aldrich Partners LLC now owns 42,666 shares of the company's stock worth $7,371,000 after buying an additional 14,290 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Marzetti by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 23,587 shares of the company's stock worth $4,075,000 after buying an additional 97 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Marzetti by 3.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 29,526 shares of the company's stock worth $5,101,000 after buying an additional 858 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Marzetti by 11.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 163,468 shares of the company's stock worth $28,242,000 after buying an additional 17,187 shares during the last quarter. 66.44% of the stock is owned by institutional investors.

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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