KLP Kapitalforvaltning AS Has $795,000 Holdings in The Marzetti Company $MZTI

KLP Kapitalforvaltning AS lifted its position in shares of The Marzetti Company (NASDAQ:MZTI) by 15.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,600 shares of the company’s stock after purchasing an additional 600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Marzetti were worth $795,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Marzetti during the 1st quarter worth approximately $29,000. Headlands Technologies LLC bought a new position in Marzetti in the 1st quarter valued at $44,000. State of Wyoming bought a new position in Marzetti in the 1st quarter valued at $60,000. Quarry LP raised its position in Marzetti by 1,350.0% in the 1st quarter. Quarry LP now owns 377 shares of the company’s stock valued at $66,000 after purchasing an additional 351 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Marzetti by 100.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 400 shares of the company’s stock valued at $69,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 66.44% of the company’s stock.

Marzetti Stock Down 0.1%

MZTI stock opened at $165.22 on Friday. The company has a market cap of $4.55 billion, a P/E ratio of 27.22 and a beta of 0.43. The Marzetti Company has a twelve month low of $156.14 and a twelve month high of $202.63. The business has a fifty day moving average of $176.81 and a 200-day moving average of $174.23.

Marzetti (NASDAQ:MZTI) last announced its quarterly earnings data on Thursday, August 21st. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. Marzetti had a return on equity of 18.87% and a net margin of 8.77%.The business had revenue of $475.43 million during the quarter, compared to analysts’ expectations of $455.26 million. During the same period in the previous year, the firm earned $1.34 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts anticipate that The Marzetti Company will post 6.8 earnings per share for the current fiscal year.

Marzetti Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, September 8th. Marzetti’s dividend payout ratio is currently 62.60%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Benchmark lifted their price objective on Marzetti from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. Stephens reiterated an “equal weight” rating and issued a $190.00 price objective on shares of Marzetti in a research report on Thursday, September 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Marzetti in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Marzetti has a consensus rating of “Hold” and a consensus target price of $206.00.

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.