Marzetti (NASDAQ:MZTI) Reaches New 52-Week Low – Time to Sell?

Shares of The Marzetti Company (NASDAQ:MZTI) hit a new 52-week low on Tuesday . The stock traded as low as $102.76 and last traded at $102.5260, with a volume of 17290 shares trading hands. The stock had previously closed at $105.39.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MZTI shares. DA Davidson dropped their price objective on Marzetti from $168.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marzetti in a research note on Monday, August 17th. Finally, Stephens reiterated an “equal weight” rating and set a $140.00 price target on shares of Marzetti in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $135.00.

Marzetti Price Performance

The company has a market cap of $2.76 billion, a PE ratio of 14.52 and a beta of 0.35. The business has a 50 day moving average of $111.24 and a 200 day moving average of $123.57. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.56 and a quick ratio of 0.67.

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

Marzetti Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 8th. Marzetti’s dividend payout ratio is presently 57.39%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its stake in shares of Marzetti by 2.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 4,162 shares of the company’s stock valued at $576,000 after purchasing an additional 100 shares during the period. State of Michigan Retirement System grew its stake in Marzetti by 2.1% in the first quarter. State of Michigan Retirement System now owns 4,932 shares of the company’s stock worth $682,000 after purchasing an additional 100 shares during the period. NewEdge Advisors LLC grew its stake 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 purchasing an additional 152 shares during the period. CIBC Private Wealth Group LLC bought a new position in Marzetti in the fourth quarter worth $32,000. Finally, Parkside Financial Bank & Trust purchased a new position in Marzetti during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

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.