The Marzetti Company $MZTI Shares Sold by Cwm LLC

Cwm LLC lowered its stake in shares of The Marzetti Company (NASDAQ:MZTI) by 2.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,343 shares of the company’s stock after selling 90 shares during the quarter. Cwm LLC’s holdings in Marzetti were worth $750,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in Marzetti by 18.0% during the 1st quarter. Wellington Management Group LLP now owns 12,710 shares of the company’s stock valued at $2,224,000 after purchasing an additional 1,939 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. raised its stake in Marzetti by 46.5% during the 1st quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 6,300 shares of the company’s stock valued at $1,103,000 after acquiring an additional 2,000 shares in the last quarter. Principal Financial Group Inc. raised its stake in Marzetti by 1.3% during the 1st quarter. Principal Financial Group Inc. now owns 52,433 shares of the company’s stock valued at $9,176,000 after acquiring an additional 659 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Marzetti by 146.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 32,441 shares of the company’s stock valued at $5,677,000 after acquiring an additional 19,264 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Marzetti by 20.9% during the 1st quarter. Blue Trust Inc. now owns 602 shares of the company’s stock valued at $105,000 after acquiring an additional 104 shares in the last quarter. Institutional investors and hedge funds own 66.44% of the company’s stock.

Marzetti Stock Performance

Shares of MZTI opened at $169.41 on Thursday. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 27.91 and a beta of 0.43. The business’s fifty day moving average price is $175.88 and its two-hundred day moving average price is $174.02. The Marzetti Company has a 52 week low of $156.14 and a 52 week high of $202.63.

Marzetti (NASDAQ:MZTI) last announced its quarterly earnings data on Thursday, August 21st. The company reported $1.33 EPS 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 analyst estimates of $455.26 million. During the same period last year, the company earned $1.34 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts forecast that The Marzetti Company will post 6.8 EPS for the current year.

Marzetti Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th were given 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 dividend payout ratio (DPR) is currently 62.60%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MZTI. Benchmark lifted their target price on Marzetti from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Stephens reaffirmed an “equal weight” rating and set a $190.00 target price on shares of Marzetti in a research note on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marzetti in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently 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.