Key Points
- CEO Luis Viso sold 997 Marzetti shares at an average price of $100.81, generating approximately $100,508. After the transaction, he retained 1,047 shares, reducing his position by 48.78%.
- Marzetti reported quarterly earnings of $1.46 per share on revenue of $465.03 million. The company also announced a $1.00 quarterly dividend, equivalent to $4.00 annually and a 3.8% yield.
- Analysts maintain a cautious view, with two Hold ratings and one Sell rating; the stock has an average rating of “Reduce” and a consensus price target of $135.
The Marzetti Company (NASDAQ:MZTI - Get Free Report) CEO Luis Viso sold 997 shares of the company's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $100.81, for a total transaction of $100,507.57. Following the completion of the transaction, the chief executive officer owned 1,047 shares of the company's stock, valued at $105,548.07. This represents a 48.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Marzetti Stock Performance
Shares of MZTI stock opened at $104.05 on Friday. The stock's 50-day moving average is $110.72 and its two-hundred day moving average is $122.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.67 and a current ratio of 1.56. The Marzetti Company has a 1 year low of $100.20 and a 1 year high of $185.27. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 14.93 and a beta of 0.35.
Marzetti (NASDAQ:MZTI - Get Free Report) last posted its earnings results on Tuesday, August 25th. The company reported $1.46 earnings per share for the quarter. The business had revenue of $465.03 million during the quarter. Marzetti had a return on equity of 18.22% and a net margin of 9.93%.
Marzetti Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be paid a $1.00 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $4.00 dividend on an annualized basis and a yield of 3.8%. Marzetti's payout ratio is currently 57.39%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a "sell (d+)" rating on shares of Marzetti in a research report on Monday, August 17th. DA Davidson decreased their price target on shares of Marzetti from $168.00 to $130.00 and set a "neutral" rating for the company in a research note on Wednesday, August 26th. Finally, Stephens reissued an "equal weight" rating and set a $140.00 price objective on shares of Marzetti in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $135.00.
Get Our Latest Research Report on MZTI
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC acquired a new stake in shares of Marzetti during the fourth quarter worth $32,000. Parkside Financial Bank & Trust purchased a new position in Marzetti during the 4th quarter worth $32,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Marzetti in the 4th quarter worth $33,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Marzetti in the fourth quarter valued at about $35,000. Finally, NewEdge Advisors LLC increased its stake in shares of Marzetti by 237.5% during the second 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. Institutional investors and hedge funds own 66.44% of the company's stock.
Marzetti Company Profile
(
Get Free Report)
Marzetti is a food manufacturer and marketer known for producing salad dressings, dips, sauces, frozen breads, pasta products and other specialty foods. Its products are sold through retail grocery channels and are also supplied to restaurants, foodservice operators and other institutional customers.
The company's portfolio includes the Marzetti, Sister Schubert's, New York Bakery, Flatout, Reames, Cardini's and Girard's brands, among others. Its offerings range from refrigerated and shelf-stable dressings and dips to frozen rolls, garlic bread, flatbreads, frozen noodles and related prepared foods.
Marzetti traces its origins to a restaurant opened by Teresa Marzetti in Columbus, Ohio, in 1896.
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