Lido Advisors LLC Purchases Shares of 5,444 The Marzetti Company $MZTI

Lido Advisors LLC purchased a new stake in The Marzetti Company (NASDAQ:MZTI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,444 shares of the company’s stock, valued at approximately $940,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Marzetti in the fourth quarter valued at $33,000. Lodestone Wealth Management LLC acquired a new stake in Marzetti in the fourth quarter valued at $37,000. Farther Finance Advisors LLC acquired a new stake in Marzetti in the fourth quarter valued at $52,000. Creative Financial Designs Inc. ADV acquired a new stake in Marzetti in the fourth quarter valued at $52,000. Finally, Blue Trust Inc. acquired a new stake in Marzetti in the fourth quarter valued at $57,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Marzetti Stock Up 1.0%

NASDAQ MZTI opened at $110.01 on Wednesday. The Marzetti Company has a 52-week low of $105.80 and a 52-week high of $190.96. The business’s 50-day moving average price is $124.07 and its 200 day moving average price is $148.71. The firm has a market cap of $3.02 billion, a P/E ratio of 17.22 and a beta of 0.33.

Marzetti Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.6%. Marzetti’s dividend payout ratio (DPR) is currently 62.60%.

Analysts Set New Price Targets

MZTI has been the topic of a number of analyst reports. DA Davidson cut their price target on Marzetti from $184.00 to $168.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Stephens cut their target price on Marzetti from $160.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Finally, Weiss Ratings cut Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Marzetti currently has an average rating of “Hold” and an average price target of $169.33.

Marzetti 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.