Marzetti (NASDAQ:MZTI) Posts Quarterly Earnings Results

Marzetti (NASDAQ:MZTI) released its earnings results on Tuesday. The company reported $2.15 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $509.77 million for the quarter. Marzetti had a return on equity of 18.86% and a net margin of 8.77%.

Marzetti Price Performance

NASDAQ:MZTI opened at $173.91 on Tuesday. The company has a 50 day moving average price of $166.77 and a 200-day moving average price of $171.26. Marzetti has a 1-year low of $152.95 and a 1-year high of $198.39. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 28.23 and a beta of 0.39.

Marzetti Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. Marzetti’s dividend payout ratio (DPR) is presently 64.94%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Marzetti in the 4th quarter worth about $33,000. Lodestone Wealth Management LLC purchased a new stake in shares of Marzetti in the fourth quarter valued at approximately $37,000. Farther Finance Advisors LLC acquired a new position in shares of Marzetti during the 4th quarter worth approximately $52,000. Blue Trust Inc. purchased a new position in shares of Marzetti during the 4th quarter valued at approximately $57,000. Finally, Nisa Investment Advisors LLC purchased a new position in shares of Marzetti during the 4th quarter valued at approximately $62,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MZTI shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marzetti in a report on Friday, January 9th. Wall Street Zen lowered shares of Marzetti from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, DA Davidson upped their price objective on shares of Marzetti from $179.00 to $184.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $191.33.

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.