Skylands Capital LLC Buys 7,200 Shares of The Marzetti Company $MZTI

Skylands Capital LLC increased its stake in shares of The Marzetti Company (NASDAQ:MZTI) by 53.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,675 shares of the company’s stock after acquiring an additional 7,200 shares during the period. Skylands Capital LLC’s holdings in Marzetti were worth $2,051,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its holdings in Marzetti by 81.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the company’s stock worth $116,000 after purchasing an additional 523 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Marzetti by 250.0% in the third quarter. Farther Finance Advisors LLC now owns 735 shares of the company’s stock valued at $73,000 after purchasing an additional 525 shares in the last quarter. Tactive Advisors LLC bought a new stake in shares of Marzetti in the third quarter valued at about $320,000. Park National Corp OH lifted its holdings in shares of Marzetti by 1.5% in the third quarter. Park National Corp OH now owns 11,160 shares of the company’s stock valued at $1,107,000 after purchasing an additional 160 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Marzetti by 105.0% during the third quarter. Versant Capital Management Inc now owns 775 shares of the company’s stock worth $77,000 after buying an additional 397 shares during the period. 66.44% of the stock is owned by institutional investors.

Marzetti Stock Down 0.6%

Marzetti stock opened at $105.33 on Thursday. The company has a market cap of $2.87 billion, a P/E ratio of 15.43 and a beta of 0.35. The Marzetti Company has a 1-year low of $97.00 and a 1-year high of $176.26. The company has a fifty day simple moving average of $105.77 and a 200 day simple moving average of $112.87. The company has a current ratio of 1.56, a quick ratio of 0.67 and a debt-to-equity ratio of 0.18.

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

Marzetti Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th were issued a $1.00 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $4.00 annualized dividend and a dividend yield of 3.8%. Marzetti’s dividend payout ratio (DPR) is presently 57.39%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MZTI shares. Stephens reiterated an “equal weight” rating and set a $140.00 price objective on shares of Marzetti in a report on Wednesday, August 26th. DA Davidson dropped their target price on Marzetti from $168.00 to $130.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 26th. Finally, Weiss Ratings restated 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $135.00.

Insider Activity

In related news, CEO Luis Viso sold 997 shares of Marzetti stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $100.81, for a total value of $100,507.57. Following the sale, the chief executive officer owned 1,047 shares of the company’s stock, valued at approximately $105,548.07. The trade was a 48.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 29.30% of the company’s stock.

Marzetti Company Profile

T. Marzetti Company is a food manufacturer and marketer based in Columbus, Ohio. The company develops, produces and distributes specialty food products for retail and foodservice customers, with a portfolio focused on dressings, dips, sauces, frozen breads and related prepared foods.

Its brand portfolio includes Marzetti, Simply Dressed, New York Bakery, Sister Schubert’s, Flatout, Cardini’s and Girard’s, among others. These products are sold through grocery retailers and other retail channels, while the company also supplies restaurants, institutional foodservice operators and other commercial customers.

The company traces its roots to 1896, when Teresa Marzetti opened a restaurant in Columbus, Ohio.