Marzetti (NASDAQ:MZTI) Hits New 12-Month Low – Should You Sell?

The Marzetti Company (NASDAQ:MZTI) reached a new 52-week low during trading on Wednesday . The company traded as low as $105.72 and last traded at $106.3450, with a volume of 139327 shares changing hands. The stock had previously closed at $108.92.

Analysts Set New Price Targets

MZTI has been the topic of a number of research analyst reports. Weiss Ratings lowered Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. DA Davidson lowered their price target on Marzetti from $184.00 to $168.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Finally, Stephens dropped their target price on Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Marzetti has a consensus rating of “Hold” and an average price target of $169.33.

Marzetti Stock Performance

The firm has a market capitalization of $2.88 billion, a PE ratio of 16.39 and a beta of 0.33. The company’s 50-day moving average price is $121.03 and its 200-day moving average price is $146.60.

Marzetti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a $1.00 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.8%. Marzetti’s dividend payout ratio is presently 62.60%.

Insider Activity at Marzetti

In other news, insider Luis Viso sold 1,221 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $109.31, for a total value of $133,467.51. Following the transaction, the insider owned 1,924 shares in the company, valued at approximately $210,312.44. This represents a 38.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC purchased a new position in Marzetti during the 4th quarter worth approximately $32,000. Parkside Financial Bank & Trust acquired a new stake in Marzetti during the 4th quarter worth $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Marzetti during the 4th quarter worth $33,000. Caitong International Asset Management Co. Ltd acquired a new stake in Marzetti during the 4th quarter worth $33,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Marzetti during the 4th quarter worth $35,000. 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.