Key Points
- Insider sale: Marzetti insider Luis Viso sold 1,221 shares on June 11 at an average price of $109.31, totaling about $133,468. After the trade, he still held 1,924 shares.
- Stock performance and valuation: Marzetti shares were up about 2% and last traded at $111.61, near the 12-month low of $105.80 and well below the high of $190.96. The company has a market cap of $3.06 billion and a dividend yield of 3.6%.
- Wall Street sentiment: Analysts are cautious on the stock, with recent price target cuts from Stephens and DA Davidson and a downgrade from Weiss Ratings. The consensus rating is Hold with a consensus price target of $169.33.
The Marzetti Company (NASDAQ:MZTI - Get Free Report) insider Luis Viso sold 1,221 shares of Marzetti stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $109.31, for a total transaction of $133,467.51. Following the sale, the insider owned 1,924 shares of the company's stock, valued at $210,312.44. The trade was a 38.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Marzetti Trading Up 2.0%
NASDAQ:MZTI opened at $111.61 on Friday. The Marzetti Company has a 12 month low of $105.80 and a 12 month high of $190.96. The firm has a fifty day simple moving average of $122.35 and a 200-day simple moving average of $147.58. The company has a market capitalization of $3.06 billion, a P/E ratio of 17.47 and a beta of 0.33.
Marzetti Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, June 5th. Marzetti's payout ratio is presently 62.60%.
Analyst Upgrades and Downgrades
MZTI has been the subject of several research reports. Stephens lowered their price objective on shares of Marzetti from $160.00 to $140.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Marzetti from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, May 20th. Finally, DA Davidson lowered their price objective on shares of Marzetti from $184.00 to $168.00 and set a "neutral" rating for the company in a research note on Monday, March 16th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $169.33.
Get Our Latest Report on Marzetti
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its position in Marzetti by 94.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,106 shares of the company's stock valued at $153,000 after purchasing an additional 536 shares during the period. California State Teachers Retirement System lifted its position in Marzetti by 29.8% during the first quarter. California State Teachers Retirement System now owns 25,187 shares of the company's stock valued at $3,484,000 after purchasing an additional 5,776 shares during the period. Empowered Funds LLC acquired a new position in Marzetti during the first quarter valued at $365,000. Quantinno Capital Management LP lifted its position in Marzetti by 144.8% during the first quarter. Quantinno Capital Management LP now owns 45,626 shares of the company's stock valued at $6,311,000 after purchasing an additional 26,986 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in Marzetti during the first quarter valued at $1,548,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.
About Marzetti
(
Get Free Report)
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.
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