Marzetti (NASDAQ:MZTI) Reaches New 12-Month Low – Here’s Why

The Marzetti Company (NASDAQ:MZTI)’s share price hit a new 52-week low on Friday . The stock traded as low as $122.63 and last traded at $124.3610, with a volume of 472989 shares trading hands. The stock had previously closed at $130.28.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MZTI. DA Davidson reduced their target price on Marzetti from $184.00 to $168.00 and set a “neutral” rating for the company in a report on Monday, March 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marzetti in a research report on Friday, January 9th. Wall Street Zen lowered Marzetti from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Stephens lowered their price objective on Marzetti from $180.00 to $160.00 and set an “equal weight” rating on the stock in a report on Monday. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Marzetti presently has a consensus rating of “Hold” and a consensus price target of $176.00.

Marzetti Stock Performance

The firm has a 50 day moving average of $145.69 and a two-hundred day moving average of $158.84. The stock has a market cap of $3.41 billion, a P/E ratio of 19.05 and a beta of 0.47.

Marzetti (NASDAQ:MZTI) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.08). Marzetti had a return on equity of 18.55% and a net margin of 9.25%.The firm had revenue of $509.77 million during the quarter. The firm’s quarterly revenue was up 1.7% on a year-over-year basis.

Marzetti Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 6th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, March 6th. Marzetti’s dividend payout ratio (DPR) is 61.26%.

Institutional Trading of Marzetti

Several large investors have recently added to or reduced their stakes in MZTI. M&T Bank Corp bought a new position in Marzetti in the 4th quarter valued at $1,118,569,000. Vanguard Group Inc. acquired a new stake in shares of Marzetti during the fourth quarter worth $367,969,000. State Street Corp acquired a new stake in shares of Marzetti during the fourth quarter worth $160,722,000. First Trust Advisors LP acquired a new stake in shares of Marzetti during the fourth quarter worth $111,778,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Marzetti during the fourth quarter worth $103,681,000. 66.44% of the stock is owned by institutional investors.

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.