Meeder Asset Management Inc. Takes $3.67 Million Position in The Marzetti Company $MZTI

Meeder Asset Management Inc. purchased a new position in shares of The Marzetti Company (NASDAQ:MZTI) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 32,188 shares of the company’s stock, valued at approximately $3,675,000. Meeder Asset Management Inc. owned about 0.12% of Marzetti at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. M&T Bank Corp acquired a new position in shares of Marzetti in the fourth quarter worth about $1,118,569,000. BlackRock Inc. purchased a new position in shares of Marzetti in the second quarter valued at approximately $313,083,000. Vanguard Group Inc. purchased a new position in Marzetti in the 4th quarter valued at $367,969,000. State Street Corp purchased a new position in shares of Marzetti in the fourth quarter worth about $160,722,000. Finally, First Trust Advisors LP lifted its stake in Marzetti by 18.2% in the 1st quarter. First Trust Advisors LP now owns 803,707 shares of the company’s stock worth $111,177,000 after purchasing an additional 123,875 shares in the last quarter. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. DA Davidson upgraded Marzetti to a “hold” rating in a report on Monday, July 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Marzetti in a research report on Monday. Finally, 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 report on Wednesday, May 6th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $169.33.

Marzetti Stock Performance

NASDAQ:MZTI opened at $115.58 on Wednesday. The stock has a market cap of $3.17 billion, a P/E ratio of 18.09 and a beta of 0.32. The Marzetti Company has a 1 year low of $104.28 and a 1 year high of $190.96. The stock has a 50-day simple moving average of $111.16 and a 200-day simple moving average of $129.14.

Insider Activity at Marzetti

In other news, insider Luis Viso sold 1,221 shares of Marzetti 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 transaction, the insider directly owned 1,924 shares of the company’s stock, valued at $210,312.44. The trade was a 38.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 29.10% of the stock is owned by insiders.

About Marzetti

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.