Insider Selling: Marzetti (NASDAQ:MZTI) CEO Sells $100,507.57 in Stock

The Marzetti Company (NASDAQ:MZTI) CEO Luis Viso sold 997 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $100.81, for a total value of $100,507.57. Following the completion of the sale, the chief executive officer owned 1,047 shares of the company’s stock, valued at $105,548.07. This trade represents a 48.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Marzetti Stock Performance

NASDAQ MZTI traded up $2.58 on Friday, hitting $104.05. 454,687 shares of the company traded hands, compared to its average volume of 310,288. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 14.93 and a beta of 0.35. The company has a current ratio of 1.56, a quick ratio of 0.67 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average price is $110.96 and its 200-day moving average price is $123.12. The Marzetti Company has a 52-week low of $100.20 and a 52-week high of $185.27.

Marzetti (NASDAQ:MZTI) last released its quarterly earnings results on Tuesday, August 25th. The company reported $1.46 earnings per share (EPS) for the quarter. The business had revenue of $465.03 million during the quarter. Marzetti had a return on equity of 18.22% and a net margin of 9.93%.

Marzetti Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 8th. Marzetti’s dividend payout ratio is currently 57.39%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC purchased a new stake in Marzetti during the fourth quarter worth $32,000. Parkside Financial Bank & Trust purchased a new stake in shares of Marzetti during the 4th quarter worth $32,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Marzetti during the 4th quarter worth $33,000. Rockefeller Capital Management L.P. bought a new stake in Marzetti during the fourth quarter valued at about $35,000. Finally, NewEdge Advisors LLC boosted its position in Marzetti by 237.5% during the second quarter. NewEdge Advisors LLC now owns 216 shares of the company’s stock valued at $25,000 after purchasing an additional 152 shares in the last quarter. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. DA Davidson decreased their target price on Marzetti from $168.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Marzetti in a report on Monday, August 17th. Finally, Stephens restated an “equal weight” rating and set a $140.00 price objective on shares of Marzetti in a research report on Wednesday, August 26th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Marzetti presently has an average rating of “Reduce” and an average target price of $135.00.

About Marzetti

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.