Marzetti (NASDAQ:MZTI) Announces Quarterly Earnings Results

Marzetti (NASDAQ:MZTI) posted its quarterly earnings data on Tuesday. The company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.23), Zacks reports. The business had revenue of $481.52 million during the quarter. Marzetti had a net margin of 9.93% and a return on equity of 18.22%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.74 earnings per share.

Marzetti Trading Up 0.6%

MZTI stock traded up $0.71 during midday trading on Tuesday, hitting $111.64. The stock had a trading volume of 103,181 shares, compared to its average volume of 329,204. The company has a current ratio of 1.56, a quick ratio of 0.67 and a debt-to-equity ratio of 0.18. The firm has a market cap of $3.05 billion, a P/E ratio of 15.94 and a beta of 0.35. The business has a fifty day moving average price of $105.09 and a two-hundred day moving average price of $124.90. Marzetti has a 1-year low of $97.00 and a 1-year high of $176.26.

Marzetti Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 8th. Marzetti’s dividend payout ratio (DPR) is currently 57.39%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Stephens dropped their target price on shares of Marzetti from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 28th. DA Davidson reduced their price target on shares of Marzetti from $168.00 to $130.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 26th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Marzetti in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $132.50.

Insider Buying and Selling at Marzetti

In other news, CEO Luis Viso sold 997 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $100.81, for a total value of $100,507.57. Following the transaction, the chief executive officer directly owned 1,047 shares of the company’s stock, valued at $105,548.07. The trade was a 48.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 29.30% of the company’s stock.

Marzetti Company Profile

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.