ProShare Advisors LLC Purchases New Shares in The Marzetti Company $MZTI

ProShare Advisors LLC purchased a new stake in The Marzetti Company (NASDAQ:MZTI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 234,915 shares of the company’s stock, valued at approximately $38,625,000.

Other large investors have also added to or reduced their stakes in the company. Wesbanco Bank Inc. bought a new stake in Marzetti in the fourth quarter valued at $26,736,000. Principal Financial Group Inc. bought a new stake in Marzetti in the fourth quarter valued at $40,196,000. Retirement Systems of Alabama bought a new stake in Marzetti in the fourth quarter valued at $4,014,000. SG Americas Securities LLC bought a new stake in Marzetti in the fourth quarter valued at $2,226,000. Finally, Boston Trust Walden Corp purchased a new position in Marzetti during the fourth quarter valued at $43,355,000. Institutional investors own 66.44% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MZTI. Stephens lowered their price objective on Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. DA Davidson lowered their price objective on Marzetti from $184.00 to $168.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Finally, Wall Street Zen lowered Marzetti from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $169.33.

Marzetti Price Performance

MZTI opened at $113.89 on Wednesday. The stock has a 50-day moving average price of $134.59 and a 200-day moving average price of $154.81. The firm has a market cap of $3.12 billion, a PE ratio of 17.82 and a beta of 0.38. The Marzetti Company has a 1 year low of $111.04 and a 1 year high of $190.96.

Marzetti 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.