Insider Selling: Marzetti (NASDAQ:MZTI) Insider Sells $133,467.51 in Stock

The Marzetti Company (NASDAQ:MZTI) insider Luis Viso sold 1,221 shares of Marzetti stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $109.31, for a total transaction of $133,467.51. Following the transaction, the insider directly owned 1,924 shares of the company’s stock, valued at approximately $210,312.44. This trade represents a 38.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Marzetti Price Performance

Shares of NASDAQ MZTI opened at $111.61 on Monday. The Marzetti Company has a 1 year low of $105.80 and a 1 year high of $190.96. The stock has a market cap of $3.06 billion, a P/E ratio of 17.47 and a beta of 0.33. The firm has a 50-day moving average of $122.35 and a 200 day moving average of $147.44.

Marzetti Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, June 5th. Marzetti’s dividend payout ratio (DPR) is 62.60%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its holdings in Marzetti by 2.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 4,162 shares of the company’s stock worth $576,000 after buying an additional 100 shares during the last quarter. State of Michigan Retirement System raised its holdings in Marzetti by 2.1% in the first quarter. State of Michigan Retirement System now owns 4,932 shares of the company’s stock worth $682,000 after buying an additional 100 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in Marzetti in the fourth quarter worth about $32,000. Parkside Financial Bank & Trust purchased a new position in Marzetti in the fourth quarter worth about $32,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Marzetti during the fourth quarter valued at approximately $33,000. 66.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MZTI shares. DA Davidson lowered their price target on shares of Marzetti from $184.00 to $168.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Stephens decreased their target price 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. Finally, Weiss Ratings cut shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. 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. According to MarketBeat.com, Marzetti has a consensus rating of “Hold” and an average price target of $169.33.

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.