Quantinno Capital Management LP Raises Holdings in The Marzetti Company $MZTI

Quantinno Capital Management LP lifted its position in shares of The Marzetti Company (NASDAQ:MZTI) by 144.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,626 shares of the company’s stock after purchasing an additional 26,986 shares during the period. Quantinno Capital Management LP’s holdings in Marzetti were worth $6,311,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wesbanco Bank Inc. acquired a new position in Marzetti during the fourth quarter worth approximately $26,736,000. Principal Financial Group Inc. acquired a new stake in shares of Marzetti in the fourth quarter valued at approximately $40,196,000. F m Investments LLC purchased a new position in shares of Marzetti during the fourth quarter worth approximately $2,417,000. KBC Group NV grew its position in shares of Marzetti by 3,214.6% during the first quarter. KBC Group NV now owns 23,998 shares of the company’s stock worth $3,320,000 after acquiring an additional 23,274 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Marzetti in the 4th quarter valued at $1,839,000. 66.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings downgraded 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 research report on Monday, July 6th. Finally, Stephens dropped their price objective 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. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Marzetti currently has a consensus rating of “Hold” and a consensus price target of $169.33.

Marzetti Trading Up 0.9%

Marzetti stock opened at $111.26 on Thursday. The stock has a 50 day moving average of $110.20 and a two-hundred day moving average of $132.53. The Marzetti Company has a twelve month low of $104.28 and a twelve month high of $190.96. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 17.41 and a beta of 0.32.

Marzetti Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Friday, June 5th. Marzetti’s dividend payout ratio is 62.60%.

Insider Buying and Selling at Marzetti

In related news, insider Luis Viso sold 1,221 shares of the 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 of the company’s stock, valued at $210,312.44. This trade represents a 38.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 29.10% of the stock is currently owned by corporate insiders.

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.