DA Davidson Cuts Marzetti (NASDAQ:MZTI) Price Target to $130.00

Marzetti (NASDAQ:MZTI) had its price objective lowered by DA Davidson from $168.00 to $130.00 in a research report report published on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also recently commented on MZTI. Stephens restated an “equal weight” rating and issued a $140.00 price target on shares of Marzetti in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marzetti in a research report on Monday, August 17th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $135.00.

Marzetti Stock Performance

Marzetti stock opened at $114.84 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.56 and a quick ratio of 1.70. The firm has a market capitalization of $3.13 billion, a P/E ratio of 16.48 and a beta of 0.32. Marzetti has a 1-year low of $104.28 and a 1-year high of $186.95. The company’s 50-day moving average is $112.11 and its 200 day moving average is $126.68.

Marzetti (NASDAQ:MZTI) last released its earnings results on Tuesday, August 25th. The company reported $1.46 EPS for the quarter. Marzetti had a return on equity of 18.22% and a net margin of 9.93%.The firm had revenue of $465.03 million for the quarter.

Marzetti Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 8th. Marzetti’s dividend payout ratio is 62.60%.

Insiders Place Their Bets

In related news, insider Luis Viso sold 1,221 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $109.31, for a total transaction of $133,467.51. Following the sale, the insider owned 1,924 shares of the company’s stock, valued at $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 link. 29.10% of the stock is currently owned by insiders.

Institutional Trading of Marzetti

Several hedge funds have recently modified their holdings of the company. Oregon Public Employees Retirement Fund grew its position in shares of Marzetti by 2.5% in the 1st 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 lifted its holdings in shares of Marzetti by 2.1% during the 1st quarter. State of Michigan Retirement System now owns 4,932 shares of the company’s stock valued at $682,000 after purchasing an additional 100 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in Marzetti in the fourth quarter valued at about $32,000. Parkside Financial Bank & Trust purchased a new position in shares of Marzetti in the 4th quarter valued at approximately $32,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Marzetti in the fourth quarter worth $33,000. 66.44% of the stock is owned by hedge funds and other institutional investors.

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.