5,411 Shares in The Marzetti Company $MZTI Purchased by Dearborn Partners LLC

Dearborn Partners LLC bought a new position in The Marzetti Company (NASDAQ:MZTI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,411 shares of the company’s stock, valued at approximately $749,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Marzetti during the 2nd quarter worth approximately $313,083,000. Vanguard Group Inc. bought a new position in Marzetti in the 4th quarter valued at $367,969,000. State Street Corp bought a new position in Marzetti in the 4th quarter valued at $160,722,000. First Trust Advisors LP grew its position in shares of Marzetti by 18.2% during the 1st quarter. First Trust Advisors LP now owns 803,707 shares of the company’s stock valued at $111,177,000 after purchasing an additional 123,875 shares in the last quarter. Finally, Geode Capital Management LLC purchased a new position in shares of Marzetti during the 4th quarter valued at $103,681,000. 66.44% of the stock is currently owned by institutional investors.

Marzetti Price Performance

Shares of Marzetti stock opened at $115.76 on Tuesday. The Marzetti Company has a 1 year low of $104.28 and a 1 year high of $188.72. The firm has a market cap of $3.17 billion, a PE ratio of 18.12 and a beta of 0.32. The company has a 50 day simple moving average of $111.52 and a two-hundred day simple moving average of $127.62.

Marzetti Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be given a $1.00 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $4.00 annualized dividend and a yield of 3.5%. Marzetti’s payout ratio is 62.60%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MZTI. DA Davidson raised shares of Marzetti to a “hold” rating in a report on Monday, July 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Marzetti in a research note on Monday, August 17th. Finally, Stephens reduced their target price on Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Marzetti currently has a consensus rating of “Reduce” and an average target price of $154.00.

Insider Buying and Selling

In related news, insider Luis Viso sold 1,221 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $109.31, for a total value of $133,467.51. Following the transaction, the insider owned 1,924 shares of the company’s stock, valued at $210,312.44. This represents a 38.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 29.10% of the stock is currently owned by corporate 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.