The Marzetti Company (MZTI) to Issue Quarterly Dividend of $1.00 on September 30th

The Marzetti Company (NASDAQ:MZTI) announced a quarterly dividend on Wednesday, August 19th. Investors of record on Tuesday, September 8th will be paid a dividend of 1.00 per share on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 8th.

Marzetti has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 62 consecutive years. Marzetti has a dividend payout ratio of 56.6% meaning its dividend is sufficiently covered by earnings.

Marzetti Stock Performance

MZTI stock opened at $105.39 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.56 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 15.12 and a beta of 0.35. Marzetti has a 12 month low of $104.28 and a 12 month high of $186.95. The firm has a 50 day moving average of $111.95 and a two-hundred day moving average of $125.03.

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

Analyst Ratings Changes

MZTI has been the topic of a number of analyst reports. Stephens reissued an “equal weight” rating and set a $140.00 price objective on shares of Marzetti in a report on Wednesday, August 26th. DA Davidson decreased their target price on Marzetti from $168.00 to $130.00 and set a “neutral” rating for the company in a research report on Wednesday, August 26th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Marzetti in a report on Monday, August 17th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average 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.