Hsbc Holdings PLC Has $560,000 Position in The Marzetti Company $MZTI

Hsbc Holdings PLC lessened its stake in shares of The Marzetti Company (NASDAQ:MZTI) by 64.4% during the first quarter, Holdings Channel.com reports. The fund owned 3,987 shares of the company’s stock after selling 7,214 shares during the period. Hsbc Holdings PLC’s holdings in Marzetti were worth $560,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund lifted its position in shares of Marzetti by 2.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 4,162 shares of the company’s stock valued at $576,000 after acquiring an additional 100 shares during the period. CIBC Private Wealth Group LLC bought a new position in shares of Marzetti in the fourth quarter worth $32,000. Parkside Financial Bank & Trust bought a new position in shares of Marzetti in the fourth quarter worth $32,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Marzetti in the fourth quarter worth $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Marzetti in the fourth quarter valued at about $33,000. 66.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marzetti

In related news, insider Luis Viso sold 1,221 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $109.31, for a total transaction of $133,467.51. Following the completion of the sale, the insider directly owned 1,924 shares in the company, valued at $210,312.44. This represents a 38.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 29.10% of the company’s stock.

Marzetti Price Performance

NASDAQ MZTI opened at $106.87 on Friday. The business has a fifty day moving average price of $110.43 and a two-hundred day moving average price of $134.00. The Marzetti Company has a fifty-two week low of $104.28 and a fifty-two week high of $190.96. The stock has a market capitalization of $2.93 billion, a PE ratio of 16.72 and a beta of 0.32.

Marzetti Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were issued a dividend of $1.00 per share. 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 62.60%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Weiss Ratings cut shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. DA Davidson raised shares of Marzetti to a “hold” rating in a report on Monday, July 6th. Finally, Stephens dropped their target price on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $169.33.

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.