Three Seasons Wealth LLC Acquires New Position in The Marzetti Company $MZTI

Three Seasons Wealth LLC acquired a new stake in shares of The Marzetti Company (NASDAQ:MZTI) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,777 shares of the company’s stock, valued at approximately $799,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp purchased a new position in shares of Marzetti in the fourth quarter worth about $1,118,569,000. Vanguard Group Inc. purchased a new stake in shares of Marzetti during the 4th quarter valued at approximately $367,969,000. State Street Corp bought a new position in Marzetti in the 4th quarter worth approximately $160,722,000. First Trust Advisors LP bought a new position in Marzetti in the 4th quarter worth approximately $111,778,000. Finally, Geode Capital Management LLC purchased a new position in Marzetti in the 4th quarter valued at approximately $103,681,000. Institutional investors own 66.44% of the company’s stock.

Insider Activity at Marzetti

In other news, insider Luis Viso sold 1,221 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $109.31, for a total value of $133,467.51. Following the transaction, the insider owned 1,924 shares of the company’s stock, valued at approximately $210,312.44. This represents a 38.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 29.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Marzetti Trading Down 1.4%

MZTI stock opened at $105.47 on Thursday. The firm has a 50 day moving average of $111.74 and a 200-day moving average of $138.58. The firm has a market capitalization of $2.89 billion, a P/E ratio of 16.51 and a beta of 0.32. The Marzetti Company has a 12 month low of $104.28 and a 12 month high of $190.96.

Marzetti Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, June 5th. Marzetti’s payout ratio is 62.60%.

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.