Geode Capital Management LLC Takes $103.68 Million Position in The Marzetti Company $MZTI

Geode Capital Management LLC bought a new stake in The Marzetti Company (NASDAQ:MZTI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 630,508 shares of the company’s stock, valued at approximately $103,681,000. Geode Capital Management LLC owned approximately 2.30% of Marzetti as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Marzetti in the fourth quarter valued at approximately $33,000. Lodestone Wealth Management LLC bought a new position in shares of Marzetti in the fourth quarter valued at approximately $37,000. Farther Finance Advisors LLC bought a new position in shares of Marzetti in the fourth quarter valued at approximately $52,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Marzetti during the fourth quarter valued at approximately $52,000. Finally, Blue Trust Inc. purchased a new stake in shares of Marzetti during the fourth quarter valued at approximately $57,000. Institutional investors own 66.44% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on MZTI shares. DA Davidson decreased their price target on Marzetti from $184.00 to $168.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Stephens decreased their price target on Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Finally, Weiss Ratings downgraded Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $169.33.

Marzetti Trading Up 0.8%

Shares of NASDAQ MZTI opened at $107.36 on Friday. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 16.80 and a beta of 0.33. The stock has a fifty day simple moving average of $125.27 and a two-hundred day simple moving average of $149.70. The Marzetti Company has a 1-year low of $105.80 and a 1-year high of $190.96.

Marzetti Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, June 5th. This represents a $4.00 annualized dividend and a dividend yield of 3.7%. Marzetti’s dividend payout ratio is currently 62.60%.

About Marzetti

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.