Caxton Associates LLP Makes New $1.23 Million Investment in The Marzetti Company $MZTI

Caxton Associates LLP bought a new stake in The Marzetti Company (NASDAQ:MZTI) in the 1st quarter, HoldingsChannel reports. The firm bought 8,916 shares of the company’s stock, valued at approximately $1,233,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Private Wealth Group LLC purchased a new position in shares of Marzetti during the 4th quarter worth $32,000. Parkside Financial Bank & Trust purchased a new stake in shares of Marzetti in the fourth quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Marzetti in the fourth quarter valued at about $33,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Marzetti in the fourth quarter valued at about $33,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Marzetti during the fourth quarter worth about $35,000. 66.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Marzetti

In related news, insider Luis Viso sold 1,221 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $109.31, for a total value of $133,467.51. Following the sale, the insider owned 1,924 shares in the company, valued at approximately $210,312.44. The trade was a 38.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 29.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MZTI has been the topic of a number of analyst reports. Stephens reduced their target price on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. DA Davidson upgraded shares of Marzetti to a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings downgraded shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Marzetti presently has a consensus rating of “Hold” and an average price target of $169.33.

Marzetti Stock Up 0.6%

Shares of NASDAQ MZTI opened at $107.19 on Friday. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 16.77 and a beta of 0.32. The Marzetti Company has a 52-week low of $104.28 and a 52-week high of $190.96. The business’s 50 day moving average is $110.90 and its two-hundred day moving average is $136.00.

Marzetti Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.7%. Marzetti’s payout ratio is presently 62.60%.

Marzetti 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.