Marzetti (NASDAQ:MZTI) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

The Marzetti Company (NASDAQ:MZTI) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $172.03 and traded as high as $174.86. Marzetti shares last traded at $171.69, with a volume of 139,011 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stephens reissued an “equal weight” rating and set a $190.00 target price on shares of Marzetti in a report on Thursday, September 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Marzetti in a research note on Tuesday, October 14th. DA Davidson increased their price objective on Marzetti from $179.00 to $184.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Finally, Benchmark raised their target price on Marzetti from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Marzetti currently has a consensus rating of “Hold” and a consensus target price of $191.33.

Marzetti Price Performance

The firm has a market capitalization of $4.66 billion, a PE ratio of 27.47 and a beta of 0.42. The business’s 50 day moving average is $167.12 and its two-hundred day moving average is $172.04.

Marzetti (NASDAQ:MZTI) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.01. The firm had revenue of $482.78 million for the quarter. Marzetti had a net margin of 8.77% and a return on equity of 18.86%. Marzetti’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 EPS. Analysts expect that The Marzetti Company will post 6.8 EPS for the current fiscal year.

Marzetti Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, December 5th. Marzetti’s dividend payout ratio (DPR) is presently 64.94%.

Institutional Investors Weigh In On Marzetti

A number of institutional investors have recently made changes to their positions in the business. William Blair Investment Management LLC raised its position in Marzetti by 21.2% in the 2nd quarter. William Blair Investment Management LLC now owns 873,357 shares of the company’s stock worth $150,890,000 after purchasing an additional 153,052 shares during the period. Boston Trust Walden Corp boosted its position in Marzetti by 14.7% during the second quarter. Boston Trust Walden Corp now owns 344,605 shares of the company’s stock valued at $59,537,000 after buying an additional 44,279 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Marzetti by 16.1% during the first quarter. Goldman Sachs Group Inc. now owns 221,350 shares of the company’s stock valued at $38,736,000 after buying an additional 30,731 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Marzetti by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 212,720 shares of the company’s stock worth $36,752,000 after buying an additional 1,707 shares during the period. Finally, Bahl & Gaynor Inc. lifted its stake in shares of Marzetti by 14.6% in the 1st quarter. Bahl & Gaynor Inc. now owns 181,084 shares of the company’s stock valued at $31,690,000 after acquiring an additional 23,027 shares during the last quarter. Hedge funds and other 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.