Fifth Third Wealth Advisors LLC Has $451,000 Holdings in The Marzetti Company $MZTI

Fifth Third Wealth Advisors LLC cut its stake in shares of The Marzetti Company (NASDAQ:MZTI) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,610 shares of the company’s stock after selling 77 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Marzetti were worth $451,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MZTI. Opal Wealth Advisors LLC acquired a new position in shares of Marzetti during the first quarter worth $26,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Marzetti during the first quarter worth $29,000. Headlands Technologies LLC acquired a new stake in Marzetti in the first quarter valued at $44,000. State of Wyoming acquired a new stake in Marzetti in the first quarter valued at $60,000. Finally, Quarry LP increased its holdings in Marzetti by 1,350.0% in the first quarter. Quarry LP now owns 377 shares of the company’s stock valued at $66,000 after purchasing an additional 351 shares during the period. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MZTI has been the subject of a number of recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Marzetti in a report on Saturday, September 27th. Benchmark increased their price objective on Marzetti from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Finally, Stephens restated an “equal weight” rating and issued a $190.00 price objective on shares of Marzetti in a report on Thursday, September 11th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Marzetti presently has a consensus rating of “Hold” and a consensus price target of $206.00.

Marzetti Trading Up 1.0%

Shares of Marzetti stock opened at $164.88 on Monday. The business has a 50-day moving average price of $177.63 and a two-hundred day moving average price of $174.50. 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 $4.54 billion, a P/E ratio of 27.16 and a beta of 0.43.

Marzetti (NASDAQ:MZTI) last issued its quarterly earnings results on Thursday, August 21st. The company reported $1.33 earnings per share 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 firm had revenue of $475.43 million during the quarter, compared to the consensus estimate of $455.26 million. During the same period last year, the business posted $1.34 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts forecast 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. Shareholders of record on Monday, September 8th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Monday, September 8th. Marzetti’s dividend payout ratio (DPR) is presently 62.60%.

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.