The Marzetti Company $MZTI Stock Holdings Lowered by ProShare Advisors LLC

ProShare Advisors LLC decreased its holdings in shares of The Marzetti Company (NASDAQ:MZTI) by 6.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,033 shares of the company’s stock after selling 18,444 shares during the period. ProShare Advisors LLC owned about 0.93% of Marzetti worth $25,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in MZTI. Rockefeller Capital Management L.P. acquired a new position in Marzetti in the 4th quarter valued at $35,000. NewEdge Advisors LLC boosted its stake in Marzetti by 237.5% during the 2nd quarter. NewEdge Advisors LLC now owns 216 shares of the company’s stock worth $25,000 after purchasing an additional 152 shares during the last quarter. IFP Advisors Inc boosted its stake in Marzetti by 796.3% during the 2nd quarter. IFP Advisors Inc now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 215 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Marzetti by 447.8% during the second quarter. Versant Capital Management Inc now owns 378 shares of the company’s stock worth $43,000 after buying an additional 309 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Marzetti during the first quarter worth $56,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Luis Viso sold 997 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $100.81, for a total value of $100,507.57. Following the completion of the transaction, the chief executive officer directly owned 1,047 shares in the company, valued at approximately $105,548.07. This represents a 48.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 29.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MZTI shares. Weiss Ratings restated a “sell (d+)” rating on shares of Marzetti in a research report on Monday, August 17th. DA Davidson dropped their price objective on shares of 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 cut their price objective on shares of Marzetti from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, October 28th. 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, the stock presently has a consensus rating of “Reduce” and an average price target of $132.50.

Marzetti Stock Performance

NASDAQ:MZTI opened at $110.93 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.56 and a quick ratio of 0.67. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 15.78 and a beta of 0.35. The company’s 50-day moving average is $105.09 and its two-hundred day moving average is $124.90. The Marzetti Company has a 1-year low of $97.00 and a 1-year high of $176.26.

Marzetti (NASDAQ:MZTI) last announced its quarterly 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 during 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 disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th were issued a $1.00 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $4.00 dividend on an annualized basis and a yield of 3.6%. Marzetti’s dividend payout ratio is currently 57.39%.

About Marzetti

T. Marzetti Company is a food manufacturer and marketer based in Columbus, Ohio. The company develops, produces and distributes specialty food products for retail and foodservice customers, with a portfolio focused on dressings, dips, sauces, frozen breads and related prepared foods.

Its brand portfolio includes Marzetti, Simply Dressed, New York Bakery, Sister Schubert’s, Flatout, Cardini’s and Girard’s, among others. These products are sold through grocery retailers and other retail channels, while the company also supplies restaurants, institutional foodservice operators and other commercial customers.

The company traces its roots to 1896, when Teresa Marzetti opened a restaurant in Columbus, Ohio.