Marzetti (NASDAQ:MZTI) Reaches New 1-Year Low – Time to Sell?

The Marzetti Company (NASDAQ:MZTI) shares reached a new 52-week low on Tuesday . The company traded as low as $100.13 and last traded at $100.00, with a volume of 75259 shares trading hands. The stock had previously closed at $102.94.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MZTI. Weiss Ratings reissued a “sell (d+)” rating on shares of Marzetti in a report on Monday, August 17th. Stephens reaffirmed an “equal weight” rating and set a $140.00 target price on shares of Marzetti in a research note on Wednesday, August 26th. Finally, 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. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Marzetti currently has a consensus rating of “Reduce” and a consensus target price of $135.00.

Marzetti Stock Down 3.5%

The company has a quick ratio of 0.67, a current ratio of 1.56 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 14.23 and a beta of 0.35. The stock’s 50 day moving average is $110.53 and its 200 day moving average is $122.25.

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

Marzetti Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $4.00 annualized dividend and a yield of 4.0%. Marzetti’s dividend payout ratio (DPR) is currently 57.39%.

Insider Transactions at Marzetti

In related news, CEO Luis Viso sold 997 shares of Marzetti stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $100.81, for a total transaction of $100,507.57. Following the transaction, the chief executive officer directly owned 1,047 shares of the company’s stock, valued at $105,548.07. The trade was a 48.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 29.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marzetti

Several large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Marzetti in the 4th quarter worth approximately $33,000. Rockefeller Capital Management L.P. acquired a new position in Marzetti in the fourth quarter worth approximately $35,000. NewEdge Advisors LLC grew its position in Marzetti by 237.5% in the second quarter. NewEdge Advisors LLC now owns 216 shares of the company’s stock worth $25,000 after buying an additional 152 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Marzetti by 796.3% in the second quarter. IFP Advisors Inc now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 215 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV bought a new position in shares of Marzetti in the fourth quarter valued at $52,000. Institutional investors own 66.44% of the company’s stock.

Marzetti Company Profile

Marzetti is a food manufacturer and marketer known for producing salad dressings, dips, sauces, frozen breads, pasta products and other specialty foods. Its products are sold through retail grocery channels and are also supplied to restaurants, foodservice operators and other institutional customers.

The company’s portfolio includes the Marzetti, Sister Schubert’s, New York Bakery, Flatout, Reames, Cardini’s and Girard’s brands, among others. Its offerings range from refrigerated and shelf-stable dressings and dips to frozen rolls, garlic bread, flatbreads, frozen noodles and related prepared foods.

Marzetti traces its origins to a restaurant opened by Teresa Marzetti in Columbus, Ohio, in 1896.