Allspring Global Investments Holdings LLC Sells 23,506 Shares of The Marzetti Company $MZTI

Allspring Global Investments Holdings LLC decreased its position in The Marzetti Company (NASDAQ:MZTI) by 72.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,935 shares of the company’s stock after selling 23,506 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Marzetti were worth $1,544,000 as of its most recent SEC filing.

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 in the first quarter valued at approximately $29,000. Headlands Technologies LLC acquired a new position in Marzetti during the 1st quarter valued at $44,000. State of Wyoming acquired a new position in Marzetti during the 1st quarter valued at $60,000. Quarry LP raised its stake in Marzetti by 1,350.0% during 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 stake in Marzetti by 100.0% during 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 own 66.44% of the company’s stock.

Marzetti Stock Performance

Shares of NASDAQ:MZTI opened at $169.41 on Thursday. The Marzetti Company has a 52 week low of $156.14 and a 52 week high of $202.63. The company’s fifty day moving average is $175.88 and its 200-day moving average is $174.02. The company has a market capitalization of $4.66 billion, a PE ratio of 27.91 and a beta of 0.43.

Marzetti (NASDAQ:MZTI) last issued its earnings results on Thursday, August 21st. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.31 by $0.02. Marzetti had a net margin of 8.77% and a return on equity of 18.87%. The company had revenue of $475.43 million for the quarter, compared to the consensus estimate of $455.26 million. During the same quarter in the previous year, the company earned $1.34 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, analysts forecast that The Marzetti Company will post 6.8 EPS for the current year.

Marzetti Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, September 8th. Marzetti’s payout ratio is currently 62.60%.

Wall Street Analyst Weigh In

Several research firms recently commented on MZTI. Benchmark upped their target price on shares of Marzetti from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Marzetti in a research note on Tuesday, October 14th. Finally, Stephens reiterated an “equal weight” rating and set a $190.00 target price on shares of Marzetti in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.