Quantbot Technologies LP Makes New Investment in The Marzetti Company $MZTI

Quantbot Technologies LP bought a new stake in The Marzetti Company (NASDAQ:MZTI) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 24,837 shares of the company’s stock, valued at approximately $2,835,000.

Other hedge funds have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC acquired a new position in shares of Marzetti in the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust acquired a new stake in Marzetti during the 4th quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd acquired a new stake in Marzetti during the 4th quarter worth approximately $33,000. Rockefeller Capital Management L.P. bought a new stake in Marzetti during the 4th quarter worth approximately $35,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Marzetti during the 4th quarter worth approximately $40,000. 66.44% of the stock is owned by institutional investors and hedge funds.

Marzetti Price Performance

Shares of MZTI stock opened at $111.63 on Monday. The stock has a market capitalization of $3.06 billion, a PE ratio of 17.47 and a beta of 0.32. The business’s 50 day simple moving average is $111.38 and its 200 day simple moving average is $127.94. The Marzetti Company has a one year low of $104.28 and a one year high of $190.96.

Marzetti Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be given a $1.00 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.6%. Marzetti’s payout ratio is 62.60%.

Analysts Set New Price Targets

MZTI has been the subject of several recent research reports. DA Davidson upgraded shares of Marzetti to a “hold” rating in a research report on Monday, July 6th. Stephens cut their price target on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Marzetti in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $154.00.

Insider Activity at Marzetti

In other news, insider Luis Viso sold 1,221 shares of the stock in a transaction on Thursday, June 11th. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 29.10% of the company’s stock.

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.