Marzetti (NASDAQ:MZTI) Price Target Raised to $184.00

Marzetti (NASDAQ:MZTI) had its target price upped by DA Davidson from $179.00 to $184.00 in a report issued on Wednesday morning,Benzinga reports. DA Davidson currently has a neutral rating on the stock.

Several other research firms have also issued reports on MZTI. Weiss Ratings restated a “hold (c)” rating on shares of Marzetti in a research report on Tuesday, October 14th. Stephens reissued an “equal weight” rating and set a $190.00 price objective on shares of Marzetti in a research note on Thursday, September 11th. Finally, Benchmark lifted their target price on shares of Marzetti from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $191.33.

Marzetti Stock Performance

Shares of Marzetti stock opened at $171.26 on Wednesday. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 28.21 and a beta of 0.40. The company has a fifty day moving average of $170.92 and a 200-day moving average of $171.89. Marzetti has a 52-week low of $152.95 and a 52-week high of $198.39.

Marzetti (NASDAQ:MZTI) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.01. Marzetti had a net margin of 8.77% and a return on equity of 18.87%. The business had revenue of $482.78 million during the quarter. During the same quarter in the previous year, the company earned $1.62 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities research analysts forecast that Marzetti will post 6.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marzetti

Several institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Marzetti during the first quarter valued at about $29,000. Headlands Technologies LLC purchased a new stake in Marzetti in the first quarter worth about $44,000. State of Wyoming bought a new stake in Marzetti during the 1st quarter valued at approximately $60,000. Quarry LP boosted its position in Marzetti by 1,350.0% during the 1st quarter. Quarry LP now owns 377 shares of the company’s stock valued at $66,000 after acquiring an additional 351 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Marzetti by 100.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 400 shares of the company’s stock worth $69,000 after acquiring an additional 200 shares during the period. 66.44% of the stock is owned by hedge funds and other institutional investors.

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.