First National Bank of Omaha Makes New $2.10 Million Investment in The Marzetti Company $MZTI

First National Bank of Omaha acquired a new position in shares of The Marzetti Company (NASDAQ:MZTI) during the second quarter, Holdings Channel reports. The institutional investor acquired 18,409 shares of the company’s stock, valued at approximately $2,102,000.

Several other institutional investors have also recently made changes to their positions in the company. M&T Bank Corp acquired a new position in shares of Marzetti in the 4th quarter valued at $1,118,569,000. BlackRock Inc. purchased a new stake in Marzetti during the second quarter worth $313,083,000. Vanguard Group Inc. acquired a new stake in Marzetti during the fourth quarter valued at $367,969,000. State Street Corp acquired a new stake in Marzetti during the fourth quarter valued at $160,722,000. Finally, First Trust Advisors LP grew its position in Marzetti by 18.2% during the first quarter. First Trust Advisors LP now owns 803,707 shares of the company’s stock valued at $111,177,000 after buying an additional 123,875 shares during the period. 66.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MZTI has been the subject of a number of analyst reports. DA Davidson upgraded shares of Marzetti to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Marzetti in a research note on Monday. Finally, Stephens dropped their target price on Marzetti from $160.00 to $140.00 and set an “equal weight” rating on the stock 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 assigned a Sell rating to the company. According to data from MarketBeat, Marzetti currently has an average rating of “Hold” and a consensus target price of $169.33.

Insider Activity

In other news, insider Luis Viso sold 1,221 shares of Marzetti stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $109.31, for a total value of $133,467.51. Following the sale, the insider owned 1,924 shares in the company, valued at $210,312.44. This trade represents a 38.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 29.10% of the stock is currently owned by company insiders.

Marzetti Stock Performance

Marzetti stock opened at $116.92 on Thursday. The company’s fifty day moving average price is $111.31 and its 200 day moving average price is $128.79. The Marzetti Company has a 1 year low of $104.28 and a 1 year high of $190.96. The stock has a market capitalization of $3.21 billion, a P/E ratio of 18.30 and a beta of 0.32.

Marzetti Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 8th. Marzetti’s dividend payout ratio (DPR) is presently 62.60%.

Marzetti Company Profile

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.