7,491 Shares in The Marzetti Company $MZTI Acquired by Ieq Capital LLC

Ieq Capital LLC acquired a new stake in The Marzetti Company (NASDAQ:MZTI) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,491 shares of the company’s stock, valued at approximately $855,000.

Other institutional investors have also added to or reduced their stakes in the company. Paralel Advisors LLC bought a new position in shares of Marzetti in the 2nd quarter valued at $1,912,000. Allworth Financial LP bought a new stake in shares of Marzetti during the 2nd quarter worth $158,000. Virtus Advisers LLC bought a new stake in shares of Marzetti during the 2nd quarter worth $199,000. Advisors Capital Management LLC acquired a new stake in Marzetti in the second quarter valued at about $387,000. Finally, First National Bank of Omaha acquired a new stake in Marzetti in the second quarter valued at about $2,102,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Marzetti Stock Down 0.8%

Shares of MZTI opened at $112.53 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.70 and a current ratio of 1.56. The Marzetti Company has a 52 week low of $104.28 and a 52 week high of $186.95. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 16.14 and a beta of 0.32. The stock has a fifty day moving average of $111.95 and a 200-day moving average of $126.76.

Marzetti (NASDAQ:MZTI) last issued its quarterly earnings data on Tuesday, August 25th. The company reported $1.46 earnings per share for the quarter. Marzetti had a return on equity of 18.22% and a net margin of 9.93%.The business had revenue of $465.03 million for the quarter.

Marzetti Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 8th. Marzetti’s dividend payout ratio (DPR) is presently 62.60%.

Insider Buying and Selling at Marzetti

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

Wall Street Analyst Weigh In

Several research analysts have commented on MZTI shares. Stephens reissued an “equal weight” rating and set a $140.00 target price on shares of Marzetti in a research note on Wednesday. Weiss Ratings restated a “sell (d+)” rating on shares of Marzetti in a research note on Monday, August 17th. Finally, DA Davidson reduced their price target on shares of Marzetti from $168.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $135.00.

Marzetti Company 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.