Marzetti (NASDAQ:MZTI) Sets New 12-Month Low – Should You Sell?

The Marzetti Company (NASDAQ:MZTI)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $137.46 and last traded at $138.4850, with a volume of 14830 shares. The stock had previously closed at $141.07.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Marzetti in a report on Friday, January 9th. Wall Street Zen lowered shares of Marzetti from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Stephens cut their price objective on shares of Marzetti from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 4th. Finally, DA Davidson reduced their target price on shares of Marzetti from $184.00 to $168.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $182.67.

Marzetti Price Performance

The firm has a market capitalization of $3.78 billion, a P/E ratio of 21.08 and a beta of 0.40. The firm has a 50-day moving average price of $160.23 and a two-hundred day moving average price of $165.84.

Marzetti (NASDAQ:MZTI) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.08). The company had revenue of $509.77 million during the quarter. Marzetti had a return on equity of 18.55% and a net margin of 9.25%.The company’s revenue was up 1.7% compared to the same quarter last year. Sell-side analysts predict that The Marzetti Company will post 6.8 earnings per share for the current fiscal year.

Marzetti Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, March 6th. Marzetti’s payout ratio is 61.26%.

Hedge Funds Weigh In On Marzetti

Institutional investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC purchased a new stake in shares of Marzetti in the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust bought a new position in Marzetti in the fourth quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Marzetti during the 4th quarter worth $33,000. Caitong International Asset Management Co. Ltd purchased a new position in Marzetti during the 4th quarter worth $33,000. Finally, Rockefeller Capital Management L.P. bought a new stake in Marzetti during the 4th quarter valued at $35,000. 66.44% of the stock is owned by hedge funds and other institutional investors.

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.