The Marzetti Company $MZTI Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in The Marzetti Company (NASDAQ:MZTI) by 144.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,626 shares of the company’s stock after buying an additional 26,986 shares during the period. Quantinno Capital Management LP owned approximately 0.17% of Marzetti worth $6,311,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. CIBC Private Wealth Group LLC acquired a new stake in shares of Marzetti in the fourth quarter valued at $32,000. Parkside Financial Bank & Trust acquired a new position in Marzetti during the 4th quarter worth $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Marzetti during the 4th quarter worth $33,000. Caitong International Asset Management Co. Ltd purchased a new stake in Marzetti during the 4th quarter worth about $33,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in Marzetti during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Marzetti Stock Performance

Shares of NASDAQ MZTI opened at $111.26 on Thursday. The stock’s 50-day simple moving average is $110.20 and its 200-day simple moving average is $132.53. The firm has a market capitalization of $3.05 billion, a PE ratio of 17.41 and a beta of 0.32. The Marzetti Company has a fifty-two week low of $104.28 and a fifty-two week high of $190.96.

Marzetti Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.6%. The ex-dividend date was Friday, June 5th. Marzetti’s dividend payout ratio is currently 62.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MZTI shares. Stephens reduced their price target on Marzetti from $160.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. DA Davidson raised Marzetti to a “hold” rating in a research report on Monday, July 6th. Finally, Weiss Ratings lowered shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $169.33.

Insiders Place Their Bets

In other Marzetti news, insider Luis Viso sold 1,221 shares of the firm’s 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 sale, the insider owned 1,924 shares of the company’s stock, valued at approximately $210,312.44. This trade represents a 38.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 29.10% 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.