Legal & General Group Plc Invests $3.17 Million in The Marzetti Company $MZTI

Legal & General Group Plc bought a new stake in shares of The Marzetti Company (NASDAQ:MZTI) during the 2nd quarter, HoldingsChannel reports. The firm bought 27,771 shares of the company’s stock, valued at approximately $3,170,000.

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

Marzetti Price Performance

Shares of NASDAQ:MZTI opened at $105.39 on Friday. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 15.12 and a beta of 0.35. The firm has a fifty day moving average price of $111.95 and a 200 day moving average price of $125.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.67 and a current ratio of 1.56. The Marzetti Company has a fifty-two week low of $104.28 and a fifty-two week high of $186.95.

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

Marzetti Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $4.00 dividend on an annualized basis and a yield of 3.8%. Marzetti’s dividend payout ratio (DPR) is 57.39%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, insider Luis Viso sold 1,221 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $109.31, for a total value of $133,467.51. Following the completion of the sale, the insider owned 1,924 shares in the company, valued at approximately $210,312.44. The trade was a 38.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 29.10% of the company’s stock.

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.