Naples Global Advisors LLC Grows Stake in The Marzetti Company $MZTI

Naples Global Advisors LLC raised its stake in shares of The Marzetti Company (NASDAQ:MZTI) by 18.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,175 shares of the company’s stock after purchasing an additional 490 shares during the period. Naples Global Advisors LLC’s holdings in Marzetti were worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of MZTI. Opal Wealth Advisors LLC bought a new position in shares of Marzetti during the 1st quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Marzetti during the first quarter worth $29,000. Headlands Technologies LLC bought a new position in Marzetti during the first quarter valued at $44,000. State of Wyoming bought a new position in Marzetti during the first quarter valued at $60,000. Finally, Quarry LP raised its stake in shares of 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 acquiring an additional 351 shares during the period. 66.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MZTI. 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 note on Friday, August 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Marzetti in a research report on Saturday, September 27th. Finally, Stephens reiterated an “equal weight” rating and issued a $190.00 price target on shares of Marzetti in a report on Thursday, September 11th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marzetti presently has an average rating of “Hold” and an average price target of $206.00.

Marzetti Stock Performance

Shares of NASDAQ:MZTI opened at $168.50 on Friday. The firm’s 50 day simple moving average is $178.44 and its 200-day simple moving average is $174.90. The Marzetti Company has a one year low of $156.14 and a one year high of $202.63. The firm has a market cap of $4.64 billion, a PE ratio of 27.76 and a beta of 0.43.

Marzetti (NASDAQ:MZTI) last announced its quarterly earnings data on Thursday, August 21st. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.02. The company had revenue of $475.43 million for the quarter, compared to analysts’ expectations of $455.26 million. Marzetti had a return on equity of 18.87% and a net margin of 8.77%.Marzetti’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.34 earnings per share. Equities research analysts predict that The Marzetti Company will post 6.8 EPS for the current fiscal year.

Marzetti Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th were issued a $0.95 dividend. The ex-dividend date was Monday, September 8th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.3%. Marzetti’s dividend payout ratio (DPR) is currently 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.