Y Intercept Hong Kong Ltd Buys 12,310 Shares of The Marzetti Company $MZTI

Y Intercept Hong Kong Ltd lifted its stake in shares of The Marzetti Company (NASDAQ:MZTI) by 451.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,039 shares of the company’s stock after buying an additional 12,310 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Marzetti were worth $2,080,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. CIBC Private Wealth Group LLC acquired a new position in Marzetti in the 4th quarter worth about $32,000. Parkside Financial Bank & Trust acquired a new stake in shares of Marzetti during the fourth quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Marzetti during the fourth quarter worth about $33,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Marzetti during the fourth quarter worth about $33,000. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Marzetti in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MZTI shares. Weiss Ratings lowered shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Stephens decreased 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, DA Davidson raised shares of Marzetti to a “hold” rating in a research note on Monday. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $169.33.

Marzetti Price Performance

Shares of MZTI stock opened at $112.15 on Thursday. The business’s 50 day simple moving average is $113.11 and its 200 day simple moving average is $140.54. The Marzetti Company has a one year low of $104.28 and a one year high of $190.96. The stock has a market capitalization of $3.08 billion, a PE ratio of 17.55 and a beta of 0.32.

Marzetti Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were given a $1.00 dividend. The ex-dividend date was Friday, June 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.6%. Marzetti’s payout ratio is 62.60%.

Insider Activity

In other news, insider Luis Viso sold 1,221 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $109.31, for a total value of $133,467.51. Following the sale, the insider directly owned 1,924 shares of the company’s stock, valued at approximately $210,312.44. This represents a 38.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 29.10% of the company’s stock.

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.