Marzetti (NASDAQ:MZTI) Insider Luis Viso Sells 1,221 Shares

The Marzetti Company (NASDAQ:MZTI) insider Luis Viso sold 1,221 shares of Marzetti stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $109.31, for a total value of $133,467.51. Following the completion of the transaction, the insider owned 1,924 shares in the company, valued at approximately $210,312.44. This represents a 38.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Marzetti Trading Up 1.7%

Marzetti stock traded up $1.90 during midday trading on Friday, reaching $111.36. The company’s stock had a trading volume of 146,481 shares, compared to its average volume of 286,910. The business has a 50-day moving average price of $122.89 and a 200-day moving average price of $147.83. The stock has a market cap of $3.05 billion, a PE ratio of 17.42 and a beta of 0.33. The Marzetti Company has a 52 week low of $105.80 and a 52 week high of $190.96.

Marzetti Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, June 5th. Marzetti’s payout ratio is 62.60%.

Hedge Funds Weigh In On Marzetti

A number of institutional investors and hedge funds have recently made changes to their positions in MZTI. CIBC Private Wealth Group LLC bought a new position in shares of Marzetti in the 4th quarter worth $32,000. Parkside Financial Bank & Trust bought a new position in shares of Marzetti in the 4th quarter worth $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Marzetti in the 4th quarter worth $33,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Marzetti in the 4th quarter worth $33,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Marzetti in the 4th quarter worth $35,000. Institutional investors own 66.44% of the company’s stock.

Wall Street Analysts Forecast Growth

MZTI has been the topic of several analyst reports. Stephens reduced their price objective on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. DA Davidson reduced their target price on Marzetti from $184.00 to $168.00 and set a “neutral” rating on the stock in a report on Monday, March 16th. Finally, Weiss Ratings cut Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Marzetti has an average rating of “Hold” and an average price target of $169.33.

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.