Marzetti (NASDAQ:MZTI) Reaches New 52-Week Low – Should You Sell?

The Marzetti Company (NASDAQ:MZTI)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $152.91 and last traded at $153.74, with a volume of 61055 shares. The stock had previously closed at $154.70.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MZTI shares. DA Davidson reiterated a “neutral” rating and set a $184.00 target price on shares of Marzetti in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marzetti in a research report on Friday, January 9th. Wall Street Zen downgraded Marzetti from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Stephens decreased their target price on shares of Marzetti from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $188.00.

Marzetti Trading Up 0.0%

The firm has a 50 day moving average of $165.87 and a 200-day moving average of $170.81. The company has a market cap of $4.24 billion, a P/E ratio of 23.70 and a beta of 0.39.

Marzetti (NASDAQ:MZTI) last announced its quarterly earnings data 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 company had revenue of $509.77 million for the quarter. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts predict that The Marzetti Company will post 6.8 EPS for the current fiscal year.

Marzetti Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, December 5th. Marzetti’s dividend payout ratio is 61.26%.

Institutional Investors Weigh In On Marzetti

A number of hedge funds have recently made changes to their positions in MZTI. Retirement Systems of Alabama lifted its stake in shares of Marzetti by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 23,587 shares of the company’s stock valued at $4,075,000 after purchasing an additional 97 shares during the last quarter. US Bancorp DE increased its position in shares of Marzetti by 2.2% during the 2nd quarter. US Bancorp DE now owns 5,589 shares of the company’s stock worth $966,000 after purchasing an additional 120 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Marzetti in the 4th quarter valued at about $33,000. Lodestone Wealth Management LLC acquired a new position in Marzetti in the fourth quarter valued at about $37,000. Finally, Farther Finance Advisors LLC purchased a new position in Marzetti during the fourth quarter worth about $52,000. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

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.