54,069 Shares in The Marzetti Company $MZTI Purchased by Jupiter Topco LLC

Jupiter Topco LLC purchased a new stake in The Marzetti Company (NASDAQ:MZTI) during the 2nd quarter, HoldingsChannel reports. The fund purchased 54,069 shares of the company’s stock, valued at approximately $6,173,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MZTI. CIBC Private Wealth Group LLC purchased a new stake in Marzetti in the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust bought a new position in shares of Marzetti in the 4th quarter worth $32,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Marzetti in the 4th quarter worth $33,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Marzetti during the 4th quarter valued at $35,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Marzetti during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MZTI. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marzetti in a report on Monday, August 17th. Stephens restated an “equal weight” rating and set a $140.00 price target on shares of Marzetti in a research report on Wednesday, August 26th. Finally, DA Davidson dropped their price target on Marzetti from $168.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, August 26th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Marzetti presently has a consensus rating of “Reduce” and an average target price of $135.00.

Marzetti Trading Down 1.9%

MZTI stock opened at $112.65 on Tuesday. The company has a market capitalization of $3.07 billion, a PE ratio of 16.16 and a beta of 0.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.67 and a current ratio of 1.56. The Marzetti Company has a one year low of $104.28 and a one year high of $186.95. The company’s 50 day moving average price is $112.27 and its two-hundred day moving average price is $126.19.

Marzetti (NASDAQ:MZTI) last announced its quarterly earnings data on Tuesday, August 25th. The company reported $1.46 earnings per share (EPS) for the quarter. Marzetti had a net margin of 9.93% and a return on equity of 18.22%. The company had revenue of $465.03 million during the quarter.

Marzetti Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $4.00 annualized dividend and a yield of 3.6%. Marzetti’s payout ratio is currently 57.39%.

Insider Transactions at Marzetti

In other Marzetti news, insider Luis Viso sold 1,221 shares of the company’s stock in a transaction dated 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 directly owned 1,924 shares in the company, valued at $210,312.44. This represents a 38.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 29.10% of the stock is currently owned by insiders.

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.