Hamilton Capital LLC Acquires New Holdings in The Marzetti Company $MZTI

Hamilton Capital LLC bought a new stake in The Marzetti Company (NASDAQ:MZTI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,822 shares of the company’s stock, valued at approximately $1,350,000. Marzetti makes up about 0.1% of Hamilton Capital LLC’s investment portfolio, making the stock its 27th largest position.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Marzetti in the 2nd quarter valued at $313,083,000. Vanguard Group Inc. acquired a new stake in Marzetti during the 4th quarter worth $367,969,000. State Street Corp bought a new position in Marzetti during the fourth quarter worth about $160,722,000. First Trust Advisors LP bought a new position in Marzetti during the fourth quarter worth about $111,778,000. Finally, Geode Capital Management LLC bought a new stake in shares of Marzetti in the fourth quarter worth about $103,681,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on MZTI. Stephens restated an “equal weight” rating and issued a $140.00 price target on shares of Marzetti in a report on Wednesday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marzetti in a report on Monday, August 17th. Finally, DA Davidson dropped their price objective on Marzetti from $168.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $135.00.

Marzetti Price Performance

Shares of MZTI opened at $112.53 on Friday. The firm has a market capitalization of $3.07 billion, a PE ratio of 16.14 and a beta of 0.32. The company’s 50-day moving average is $111.95 and its 200-day moving average is $126.76. The Marzetti Company has a fifty-two week low of $104.28 and a fifty-two week high of $186.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.56 and a quick ratio of 1.70.

Marzetti (NASDAQ:MZTI) last posted its earnings results on Tuesday, August 25th. The company reported $1.46 earnings per share (EPS) for the quarter. The company had revenue of $465.03 million during the quarter. Marzetti had a net margin of 9.93% and a return on equity of 18.22%.

Marzetti Announces Dividend

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 given a dividend of $1.00 per share. The ex-dividend date is Tuesday, September 8th. This represents a $4.00 annualized dividend and a yield of 3.6%. Marzetti’s dividend payout ratio (DPR) is 62.60%.

Insider Transactions at Marzetti

In other news, insider Luis Viso sold 1,221 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider owned 1,924 shares in the company, valued at $210,312.44. The trade was a 38.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 29.10% of the stock is owned by company insiders.

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.