Dean Capital Management Buys Shares of 9,265 The Marzetti Company $MZTI

Dean Capital Management purchased a new position in The Marzetti Company (NASDAQ:MZTI) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 9,265 shares of the company’s stock, valued at approximately $1,282,000.

Several other large investors have also bought and sold shares of the company. Renaissance Technologies LLC raised its position in shares of Marzetti by 4.0% during the first quarter. Renaissance Technologies LLC now owns 370,780 shares of the company’s stock worth $51,290,000 after purchasing an additional 14,400 shares during the period. Caxton Associates LLP acquired a new position in shares of Marzetti in the 1st quarter valued at $1,233,000. Inceptionr LLC acquired a new position in shares of Marzetti in the 1st quarter valued at $505,000. Bank of Nova Scotia purchased a new position in Marzetti in the 1st quarter worth about $374,000. Finally, Sei Investments Co. raised its holdings in Marzetti by 7.6% during the 1st quarter. Sei Investments Co. now owns 7,514 shares of the company’s stock worth $1,039,000 after buying an additional 529 shares during the period. Institutional investors own 66.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MZTI. Weiss Ratings lowered shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Stephens cut their price target on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Finally, DA Davidson upgraded shares of Marzetti to a “hold” rating in a research report on Monday, July 6th. One equities 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $169.33.

Marzetti Price Performance

MZTI stock opened at $107.19 on Monday. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 16.77 and a beta of 0.32. The Marzetti Company has a 12 month low of $104.28 and a 12 month high of $190.96. The firm has a 50 day moving average of $110.90 and a two-hundred day moving average of $135.81.

Marzetti Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, June 5th. Marzetti’s dividend payout ratio (DPR) is 62.60%.

Insider Buying and Selling at Marzetti

In related news, insider Luis Viso sold 1,221 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $109.31, for a total transaction of $133,467.51. Following the completion of the sale, the insider owned 1,924 shares in the company, valued at $210,312.44. This represents a 38.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate 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.