The Marzetti Company $MZTI Shares Acquired by US Bancorp DE

US Bancorp DE lifted its holdings in shares of The Marzetti Company (NASDAQ:MZTI) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,589 shares of the company’s stock after acquiring an additional 120 shares during the period. US Bancorp DE’s holdings in Marzetti were worth $966,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Marzetti during the 1st quarter worth about $29,000. Headlands Technologies LLC acquired a new position in Marzetti during the first quarter worth approximately $44,000. State of Wyoming acquired a new position in Marzetti during the first quarter worth approximately $60,000. Quarry LP increased its position in Marzetti by 1,350.0% during the first quarter. Quarry LP now owns 377 shares of the company’s stock worth $66,000 after buying an additional 351 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Marzetti by 100.0% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 400 shares of the company’s stock worth $69,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 66.44% of the company’s stock.

Marzetti Price Performance

Marzetti stock opened at $168.33 on Friday. The Marzetti Company has a 1-year low of $156.14 and a 1-year high of $202.63. The company has a market cap of $4.63 billion, a PE ratio of 27.73 and a beta of 0.43. The stock’s 50 day moving average price is $176.61 and its 200 day moving average price is $174.18.

Marzetti (NASDAQ:MZTI) last posted its quarterly earnings results on Thursday, August 21st. The company reported $1.33 earnings per share for the quarter, beating 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 firm had revenue of $475.43 million for the quarter, compared to the consensus estimate of $455.26 million. During the same period in the previous year, the business earned $1.34 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that The Marzetti Company will post 6.8 EPS for the current fiscal year.

Marzetti Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 8th were paid a $0.95 dividend. The ex-dividend date was Monday, September 8th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.3%. Marzetti’s payout ratio is 62.60%.

Wall Street Analyst Weigh In

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

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.