Hsbc Holdings PLC Has $560,000 Stock Holdings in The Marzetti Company $MZTI

Hsbc Holdings PLC trimmed its stake in shares of The Marzetti Company (NASDAQ:MZTI) by 64.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,987 shares of the company’s stock after selling 7,214 shares during the quarter. Hsbc Holdings PLC’s holdings in Marzetti were worth $560,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. M&T Bank Corp bought a new position in shares of Marzetti in the fourth quarter valued at about $1,118,569,000. Vanguard Group Inc. bought a new stake in shares of Marzetti during the 4th quarter worth about $367,969,000. State Street Corp bought a new stake in shares of Marzetti during the 4th quarter worth about $160,722,000. First Trust Advisors LP acquired a new position in Marzetti in the 4th quarter valued at about $111,778,000. Finally, Geode Capital Management LLC acquired a new position in Marzetti in the 4th quarter valued at about $103,681,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marzetti

In other Marzetti news, insider Luis Viso sold 1,221 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $109.31, for a total value of $133,467.51. Following the completion of the sale, the insider owned 1,924 shares of the company’s stock, valued at $210,312.44. The trade was a 38.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 29.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Stephens decreased their target price 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. Finally, DA Davidson upgraded Marzetti to a “hold” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Marzetti presently has a consensus rating of “Hold” and a consensus target price of $169.33.

Marzetti Stock Performance

Shares of Marzetti stock opened at $106.87 on Friday. The firm has a 50-day moving average of $110.43 and a 200-day moving average of $134.00. The Marzetti Company has a 52-week low of $104.28 and a 52-week high of $190.96. The stock has a market cap of $2.93 billion, a PE ratio of 16.72 and a beta of 0.32.

Marzetti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were paid a $1.00 dividend. The ex-dividend date was Friday, June 5th. This represents a $4.00 annualized dividend and a yield of 3.7%. Marzetti’s 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.