The Marzetti Company (NASDAQ:MZTI) Declares Quarterly Dividend of $1.00

The Marzetti Company (NASDAQ:MZTI) announced a quarterly dividend on Wednesday, May 20th. Shareholders of record on Friday, June 5th will be paid a dividend of 1.00 per share on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, June 5th.

Marzetti has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 62 years. Marzetti has a dividend payout ratio of 56.6% meaning its dividend is sufficiently covered by earnings.

Marzetti Stock Down 1.7%

Shares of MZTI stock opened at $112.00 on Thursday. Marzetti has a 12-month low of $110.64 and a 12-month high of $190.96. The firm has a 50 day moving average price of $133.55 and a two-hundred day moving average price of $154.50. The company has a market capitalization of $3.07 billion, a PE ratio of 17.53 and a beta of 0.38.

Analyst Upgrades and Downgrades

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

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.