ProShare Advisors LLC Invests $38.63 Million in The Marzetti Company $MZTI

ProShare Advisors LLC bought a new position in The Marzetti Company (NASDAQ:MZTI) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 234,915 shares of the company’s stock, valued at approximately $38,625,000. ProShare Advisors LLC owned approximately 0.86% of Marzetti at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. M&T Bank Corp bought a new position in Marzetti during the fourth quarter valued at about $1,118,569,000. Vanguard Group Inc. purchased a new stake in shares of Marzetti in the fourth quarter worth about $367,969,000. Boston Trust Walden Corp purchased a new stake in shares of Marzetti in the fourth quarter worth about $43,355,000. Principal Financial Group Inc. purchased a new stake in Marzetti in the fourth quarter valued at approximately $40,196,000. Finally, Goldman Sachs Group Inc. raised its stake in Marzetti by 16.1% in the first quarter. Goldman Sachs Group Inc. now owns 221,350 shares of the company’s stock valued at $38,736,000 after purchasing an additional 30,731 shares in the last quarter. Institutional investors own 66.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MZTI. DA Davidson lowered their target price on shares of Marzetti from $184.00 to $168.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Stephens lowered their target price on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of Marzetti from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $169.33.

Marzetti Stock Performance

Shares of Marzetti stock opened at $113.89 on Wednesday. The Marzetti Company has a 52-week low of $111.04 and a 52-week high of $190.96. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 17.82 and a beta of 0.38. The company’s 50 day moving average price is $134.59 and its 200-day moving average price is $154.81.

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.