Marzetti (NASDAQ:MZTI) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

The Marzetti Company (NASDAQ:MZTI) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $172.00 and traded as high as $174.22. Marzetti shares last traded at $171.65, with a volume of 103,408 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Benchmark lifted their price target on shares of Marzetti from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. Stephens reiterated an “equal weight” rating and set a $190.00 target price on shares of Marzetti in a report on Thursday, September 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Marzetti in a research note on Tuesday, October 14th. Finally, DA Davidson lowered their price target on Marzetti from $193.00 to $179.00 and set a “neutral” rating for the company in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $189.67.

Marzetti Stock Performance

The firm has a market capitalization of $4.72 billion, a P/E ratio of 28.28 and a beta of 0.41. The firm’s 50-day moving average is $171.55 and its 200 day moving average is $172.00.

Marzetti (NASDAQ:MZTI) last released its quarterly earnings results on Thursday, August 21st. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.02. The firm had revenue of $475.43 million for the quarter, compared to the consensus estimate of $455.26 million. Marzetti had a return on equity of 18.87% and a net margin of 8.77%.The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. As a group, research analysts expect that The Marzetti Company will post 6.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Marzetti

Several institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Marzetti during the 1st quarter worth approximately $29,000. Headlands Technologies LLC bought a new stake in shares of Marzetti in the first quarter worth $44,000. State of Wyoming acquired a new position in Marzetti during the first quarter worth $60,000. Quarry LP grew its position in Marzetti by 1,350.0% in the first quarter. Quarry LP now owns 377 shares of the company’s stock valued at $66,000 after purchasing an additional 351 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Marzetti by 100.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 400 shares of the company’s stock valued at $69,000 after buying an additional 200 shares during the last quarter. Institutional investors own 66.44% of the company’s stock.

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.