Retirement Systems of Alabama Acquires New Position in The Marzetti Company $MZTI

by · The Markets Daily

Retirement Systems of Alabama acquired a new stake in shares of The Marzetti Company (NASDAQ:MZTI – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 24,411 shares of the company’s stock, valued at approximately $4,014,000.

Several other large investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Marzetti by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,637 shares of the company’s stock valued at $2,036,000 after acquiring an additional 500 shares in the last quarter. Strs Ohio purchased a new stake in Marzetti during the 1st quarter valued at about $175,000. Royal Bank of Canada grew its stake in Marzetti by 3.8% during the 1st quarter. Royal Bank of Canada now owns 32,626 shares of the company’s stock valued at $5,710,000 after acquiring an additional 1,186 shares in the last quarter. United Services Automobile Association purchased a new stake in Marzetti during the 1st quarter valued at about $231,000. Finally, Trust Point Inc. purchased a new stake in Marzetti during the 4th quarter valued at about $243,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Marzetti Price Performance

Marzetti stock opened at $142.97 on Tuesday. The firm has a 50 day simple moving average of $155.08 and a 200-day simple moving average of $163.17. The Marzetti Company has a 1-year low of $136.72 and a 1-year high of $193.40. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 21.89 and a beta of 0.47.

Marzetti (NASDAQ:MZTI – Get Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.08). Marzetti had a net margin of 9.25% and a return on equity of 18.55%. The firm had revenue of $509.77 million during the quarter. Marzetti’s revenue was up 1.7% on a year-over-year basis. Equities analysts expect that The Marzetti Company will post 6.8 earnings per share for the current fiscal year.

Marzetti Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, March 6th. Marzetti’s dividend payout ratio is currently 61.26%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. DA Davidson dropped their price objective on shares of Marzetti from $184.00 to $168.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Marzetti in a research note on Friday, January 9th. Wall Street Zen cut shares of Marzetti from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Stephens dropped their price target on shares of Marzetti from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $182.67.

Read Our Latest Stock Analysis on MZTI

Marzetti Company Profile

(Free Report)

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.

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