The Marzetti Company $MZTI Shares Bought by Skylands Capital LLC

Skylands Capital LLC lifted its holdings in shares of The Marzetti Company (NASDAQ:MZTI) by 53.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,675 shares of the company’s stock after buying an additional 7,200 shares during the quarter. Skylands Capital LLC owned about 0.08% of Marzetti worth $2,051,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its holdings in Marzetti by 2.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 4,162 shares of the company’s stock valued at $576,000 after buying an additional 100 shares during the period. State of Michigan Retirement System grew its holdings in Marzetti by 2.1% during the 1st quarter. State of Michigan Retirement System now owns 4,932 shares of the company’s stock worth $682,000 after acquiring an additional 100 shares during the period. NewEdge Advisors LLC grew its holdings in Marzetti by 237.5% during the 2nd quarter. NewEdge Advisors LLC now owns 216 shares of the company’s stock worth $25,000 after acquiring an additional 152 shares during the period. Park National Corp OH raised its position in shares of Marzetti by 1.5% during the 3rd quarter. Park National Corp OH now owns 11,160 shares of the company’s stock valued at $1,107,000 after acquiring an additional 160 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Marzetti during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Insider Activity at Marzetti

In other news, CEO Luis Viso sold 997 shares of Marzetti stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $100.81, for a total transaction of $100,507.57. Following the transaction, the chief executive officer owned 1,047 shares in the company, valued at $105,548.07. The trade was a 48.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 29.30% of the stock is currently owned by corporate insiders.

Marzetti Price Performance

MZTI opened at $105.33 on Thursday. The stock has a market cap of $2.87 billion, a P/E ratio of 15.43 and a beta of 0.35. The Marzetti Company has a 12 month low of $97.00 and a 12 month high of $176.26. The company has a quick ratio of 0.67, a current ratio of 1.56 and a debt-to-equity ratio of 0.18. The company has a fifty day simple moving average of $105.77 and a 200 day simple moving average of $112.87.

Marzetti (NASDAQ:MZTI) last posted its earnings results on Tuesday, August 25th. The company reported $1.46 earnings per share for the quarter. Marzetti had a return on equity of 18.22% and a net margin of 9.93%. The firm had revenue of $465.03 million for the quarter.

Marzetti Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.8%. Marzetti’s dividend payout ratio (DPR) is currently 57.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. DA Davidson cut their price target on Marzetti from $168.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Marzetti in a report on Monday, August 17th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $140.00 target price on shares of Marzetti in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $135.00.

Marzetti Company Profile

T. Marzetti Company is a food manufacturer and marketer based in Columbus, Ohio. The company develops, produces and distributes specialty food products for retail and foodservice customers, with a portfolio focused on dressings, dips, sauces, frozen breads and related prepared foods.

Its brand portfolio includes Marzetti, Simply Dressed, New York Bakery, Sister Schubert’s, Flatout, Cardini’s and Girard’s, among others. These products are sold through grocery retailers and other retail channels, while the company also supplies restaurants, institutional foodservice operators and other commercial customers.

The company traces its roots to 1896, when Teresa Marzetti opened a restaurant in Columbus, Ohio.