Tributary Capital Management LLC Buys 775 Shares of The Marzetti Company $MZTI

Tributary Capital Management LLC boosted its stake in The Marzetti Company (NASDAQ:MZTI) by 16.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,410 shares of the company’s stock after purchasing an additional 775 shares during the quarter. Tributary Capital Management LLC’s holdings in Marzetti were worth $935,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. William Blair Investment Management LLC boosted its stake in Marzetti by 21.2% in the 2nd quarter. William Blair Investment Management LLC now owns 873,357 shares of the company’s stock worth $150,890,000 after purchasing an additional 153,052 shares during the period. Mutual Advisors LLC purchased a new stake in shares of Marzetti in the 2nd quarter valued at about $207,000. Boston Trust Walden Corp raised its holdings in shares of Marzetti by 14.7% in the 2nd quarter. Boston Trust Walden Corp now owns 344,605 shares of the company’s stock valued at $59,537,000 after acquiring an additional 44,279 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Marzetti by 55.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,963 shares of the company’s stock valued at $685,000 after buying an additional 1,410 shares in the last quarter. Finally, Vest Financial LLC raised its holdings in shares of Marzetti by 71.8% during the 2nd quarter. Vest Financial LLC now owns 23,929 shares of the company’s stock valued at $4,134,000 after buying an additional 9,999 shares in the last quarter. Institutional investors own 66.44% of the company’s stock.

Analyst Ratings Changes

MZTI has been the topic of a number of research reports. Stephens reissued an “equal weight” rating and set a $190.00 price objective on shares of Marzetti in a report on Thursday, September 11th. Benchmark lifted their price target on Marzetti from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marzetti in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $206.00.

Marzetti Stock Performance

Shares of MZTI stock opened at $169.41 on Thursday. The firm has a market cap of $4.66 billion, a P/E ratio of 27.91 and a beta of 0.43. The Marzetti Company has a fifty-two week low of $156.14 and a fifty-two week high of $202.63. The business’s 50 day moving average price is $175.88 and its 200-day moving average price is $174.02.

Marzetti (NASDAQ:MZTI) last released its quarterly earnings results on Thursday, August 21st. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.02. Marzetti had a return on equity of 18.87% and a net margin of 8.77%.The company had revenue of $475.43 million for the quarter, compared to analyst estimates of $455.26 million. During the same period in the previous year, the company posted $1.34 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. As a group, equities analysts predict that The Marzetti Company will post 6.8 EPS for the current year.

Marzetti Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th were paid a dividend of $0.95 per share. The ex-dividend date was Monday, September 8th. This represents a $3.80 dividend on an annualized basis and a yield of 2.2%. Marzetti’s payout ratio is presently 62.60%.

Marzetti 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.