Jupiter Topco LLC Takes Position in The Marzetti Company $MZTI

Jupiter Topco LLC bought a new stake in The Marzetti Company (NASDAQ:MZTI) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 54,069 shares of the company’s stock, valued at approximately $6,173,000. Jupiter Topco LLC owned 0.20% of Marzetti at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Marzetti during the 2nd quarter worth approximately $313,083,000. Vanguard Group Inc. acquired a new stake in Marzetti in the fourth quarter valued at approximately $367,969,000. State Street Corp bought a new stake in shares of Marzetti during the fourth quarter valued at approximately $160,722,000. First Trust Advisors LP increased its holdings in shares of Marzetti by 18.2% during the first quarter. First Trust Advisors LP now owns 803,707 shares of the company’s stock valued at $111,177,000 after acquiring an additional 123,875 shares in the last quarter. Finally, Geode Capital Management LLC bought a new stake in shares of Marzetti during the fourth quarter valued at approximately $103,681,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Marzetti Stock Down 1.9%

MZTI opened at $112.65 on Tuesday. The Marzetti Company has a 12 month low of $104.28 and a 12 month high of $186.95. The company has a market cap of $3.07 billion, a PE ratio of 16.16 and a beta of 0.32. The company has a current ratio of 1.56, a quick ratio of 0.67 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average of $112.27 and a 200 day moving average of $126.19.

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

Marzetti Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 8th. Marzetti’s payout ratio is presently 57.39%.

Insider Buying and Selling at Marzetti

In other news, insider Luis Viso sold 1,221 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $109.31, for a total value of $133,467.51. Following the sale, the insider directly owned 1,924 shares of the company’s stock, valued at approximately $210,312.44. This represents a 38.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 29.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on MZTI. Stephens restated an “equal weight” rating and issued a $140.00 target price on shares of Marzetti in a report on Wednesday, August 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marzetti in a research note on Monday, August 17th. Finally, DA Davidson dropped their price objective on Marzetti from $168.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $135.00.

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.