Intech Investment Management LLC Acquires Shares of 8,320 The Marzetti Company $MZTI

Intech Investment Management LLC bought a new position in The Marzetti Company (NASDAQ:MZTI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,320 shares of the company’s stock, valued at approximately $1,368,000.

Other large investors have also bought and sold shares of the company. Wesbanco Bank Inc. bought a new position in Marzetti during the 4th quarter worth approximately $26,736,000. Principal Financial Group Inc. acquired a new stake in shares of Marzetti during the fourth quarter worth $40,196,000. Retirement Systems of Alabama acquired a new stake in shares of Marzetti during the fourth quarter worth $4,014,000. SG Americas Securities LLC acquired a new stake in shares of Marzetti during the fourth quarter worth $2,226,000. Finally, Boston Trust Walden Corp acquired a new stake in shares of Marzetti during the fourth quarter worth $43,355,000. 66.44% of the stock is owned by hedge funds and other institutional investors.

Marzetti Stock Up 0.8%

MZTI stock opened at $107.36 on Friday. The Marzetti Company has a fifty-two week low of $105.80 and a fifty-two week high of $190.96. The firm’s 50-day simple moving average is $125.27 and its 200 day simple moving average is $149.70. The stock has a market cap of $2.94 billion, a PE ratio of 16.80 and a beta of 0.33.

Marzetti Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, June 5th. Marzetti’s dividend payout ratio (DPR) is 62.60%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. DA Davidson dropped their target price on shares of Marzetti from $184.00 to $168.00 and set a “neutral” rating on the stock in a report on Monday, March 16th. Stephens dropped their target price on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Finally, Weiss Ratings cut shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. One equities research 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, the company has an average rating of “Hold” and a consensus price target of $169.33.

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.