Marzetti (NASDAQ:MZTI) Stock Price Down 4.4% – Here’s What Happened

The Marzetti Company (NASDAQ:MZTI)’s share price was down 4.4% during trading on Thursday . The company traded as low as $106.14 and last traded at $106.5150. Approximately 66,778 shares traded hands during trading, a decline of 78% from the average session volume of 305,175 shares. The stock had previously closed at $111.37.

Analysts Set New Price Targets

MZTI has been the topic of several research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marzetti in a report on Monday, August 17th. Stephens restated an “equal weight” rating and set a $140.00 target price on shares of Marzetti in a research note on Wednesday, August 26th. Finally, DA Davidson reduced their target price on shares of Marzetti from $168.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $135.00.

Marzetti Stock Performance

The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 15.17 and a beta of 0.35. The company has a fifty day moving average of $112.30 and a two-hundred day moving average of $125.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.67 and a current ratio of 1.56.

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

Marzetti Dividend Announcement

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

Insider Activity

In related news, insider Luis Viso sold 1,221 shares of the stock in a transaction that occurred 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 sale, the insider owned 1,924 shares of the company’s stock, valued at $210,312.44. This represents a 38.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 29.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC bought a new position in shares of Marzetti in the fourth quarter worth about $32,000. Parkside Financial Bank & Trust bought a new stake in shares of Marzetti during the 4th quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd acquired a new position in Marzetti during the 4th quarter worth approximately $33,000. Rockefeller Capital Management L.P. acquired a new position in Marzetti during the 4th quarter worth approximately $35,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Marzetti in the 4th quarter valued at approximately $40,000. Institutional investors own 66.44% 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.