59,747 Shares in The Marzetti Company $MZTI Acquired by Nuveen LLC

Nuveen LLC acquired a new position in The Marzetti Company (NASDAQ:MZTI) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 59,747 shares of the company’s stock, valued at approximately $10,456,000. Nuveen LLC owned approximately 0.22% of Marzetti as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Marzetti in the first quarter worth $26,000. Headlands Technologies LLC acquired a new position in shares of Marzetti in the first quarter worth about $44,000. Blue Trust Inc. raised its position in shares of Marzetti by 20.9% in the first quarter. Blue Trust Inc. now owns 602 shares of the company’s stock worth $105,000 after acquiring an additional 104 shares during the period. Significant Wealth Partners LLC acquired a new position in shares of Marzetti in the first quarter worth about $204,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Marzetti during the 4th quarter worth about $206,000. Institutional investors own 66.44% of the company’s stock.

Marzetti Price Performance

NASDAQ:MZTI opened at $189.18 on Friday. The Marzetti Company has a 1-year low of $156.14 and a 1-year high of $202.63. The firm has a 50 day simple moving average of $174.17 and a 200-day simple moving average of $176.96. The firm has a market cap of $5.22 billion, a PE ratio of 31.17 and a beta of 0.47.

Marzetti (NASDAQ:MZTI) last released its earnings results on Thursday, August 21st. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. Marzetti had a net margin of 8.77% and a return on equity of 18.99%. The firm had revenue of $475.43 million during the quarter, compared to the consensus estimate of $455.26 million. During the same period in the previous year, the firm earned $1.34 earnings per share. Marzetti’s revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts expect that The Marzetti Company will post 6.8 earnings per share for the current fiscal year.

Marzetti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, September 8th. Marzetti’s payout ratio is currently 61.79%.

Analyst Ratings Changes

Several analysts have recently weighed in on MZTI shares. Stephens dropped their price target on shares of Marzetti from $200.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Benchmark increased their target price on shares of Marzetti from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wall Street Zen downgraded shares of Marzetti from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $207.25.

Marzetti 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.