Marzetti (NASDAQ:MZTI) Price Target Lowered to $168.00 at DA Davidson

Marzetti (NASDAQ:MZTI) had its price target trimmed by DA Davidson from $184.00 to $168.00 in a research note published on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms also recently issued reports on MZTI. Wall Street Zen downgraded shares of Marzetti from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Stephens reduced their target price on shares of Marzetti from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Marzetti in a research report on Friday, January 9th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $182.67.

Marzetti Stock Performance

MZTI stock opened at $146.41 on Monday. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 22.42 and a beta of 0.40. The business’s 50-day moving average is $163.24 and its two-hundred day moving average is $167.57. Marzetti has a fifty-two week low of $146.22 and a fifty-two week high of $193.40.

Marzetti (NASDAQ:MZTI) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $2.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.08). Marzetti had a net margin of 9.25% and a return on equity of 18.55%. The firm had revenue of $509.77 million for the quarter. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities analysts predict that Marzetti will post 6.8 earnings per share for the current year.

Marzetti Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. Marzetti’s dividend payout ratio (DPR) is 61.26%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC bought a new position in shares of Marzetti during the 4th quarter valued at approximately $32,000. Parkside Financial Bank & Trust bought a new stake in Marzetti during the 4th quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd bought a new stake in Marzetti during the 4th quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Marzetti during the fourth quarter valued at approximately $33,000. Finally, Lodestone Wealth Management LLC purchased a new position in Marzetti during the fourth quarter valued at approximately $37,000. 66.44% of the stock is owned by hedge funds and other institutional investors.

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.