Marzetti (NASDAQ:MZTI) Hits New 12-Month Low – Time to Sell?

The Marzetti Company (NASDAQ:MZTI)’s share price hit a new 52-week low on Wednesday . The company traded as low as $110.64 and last traded at $111.2950, with a volume of 40660 shares traded. The stock had previously closed at $113.89.

Analyst Ratings Changes

A number of research firms have recently commented on MZTI. Wall Street Zen cut shares of Marzetti from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Stephens dropped their price objective on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Finally, DA Davidson dropped their price objective on shares of Marzetti from $184.00 to $168.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $169.33.

Marzetti Trading Down 1.7%

The firm’s fifty day moving average price is $134.59 and its 200 day moving average price is $154.81. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 17.55 and a beta of 0.38.

Institutional Investors Weigh In On Marzetti

Large investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC purchased a new position in Marzetti during the 4th quarter worth $32,000. Parkside Financial Bank & Trust purchased a new position in Marzetti during the 4th quarter worth $32,000. Caitong International Asset Management Co. Ltd purchased a new position in Marzetti during the 4th quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Marzetti during the 4th quarter worth $33,000. Finally, Rockefeller Capital Management L.P. purchased a new position in Marzetti during the 4th quarter worth $35,000. 66.44% of the stock is owned by hedge funds and other institutional investors.

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.