Paralel Advisors LLC Purchases New Position in The Marzetti Company $MZTI

Paralel Advisors LLC acquired a new position in The Marzetti Company (NASDAQ:MZTI) during the second quarter, Holdings Channel reports. The institutional investor acquired 16,745 shares of the company’s stock, valued at approximately $1,912,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Marzetti during the 2nd quarter worth $313,083,000. State Street Corp acquired a new stake in shares of Marzetti in the 4th quarter valued at $160,722,000. First Trust Advisors LP acquired a new stake in shares of Marzetti in the 4th quarter valued at $111,778,000. Geode Capital Management LLC acquired a new stake in shares of Marzetti in the 4th quarter valued at $103,681,000. Finally, Dimensional Fund Advisors LP bought a new stake in Marzetti in the fourth quarter worth $90,106,000. Institutional investors own 66.44% of the company’s stock.

Insider Activity

In related news, insider Luis Viso sold 1,221 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 1,924 shares of the company’s stock, valued at approximately $210,312.44. The trade was a 38.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 29.10% of the company’s stock.

Marzetti Price Performance

Shares of Marzetti stock opened at $105.39 on Monday. The company has a current ratio of 1.56, a quick ratio of 0.67 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $111.95 and a 200-day simple moving average of $124.78. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 15.12 and a beta of 0.35. The Marzetti Company has a 1-year low of $104.28 and a 1-year high of $186.95.

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 business had revenue of $465.03 million for the quarter. Marzetti had a net margin of 9.93% and a return on equity of 18.22%.

Marzetti Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 8th. Marzetti’s dividend payout ratio (DPR) is currently 57.39%.

Analyst Ratings Changes

Several equities analysts have commented on MZTI shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Marzetti in a research report on Monday, August 17th. DA Davidson decreased their price target on 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 report on Wednesday, August 26th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Marzetti presently has a consensus rating of “Reduce” and a consensus target price of $135.00.

Marzetti 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.