Marzetti’s (MZTI) “Equal Weight” Rating Reiterated at Stephens
by Michael Walen · The Markets DailyStephens reissued their equal weight rating on shares of Marzetti (NASDAQ:MZTI – Free Report) in a report released on Wednesday,Benzinga reports. The firm currently has a $135.00 price objective on the stock.
Other equities research analysts have also issued reports about the company. DA Davidson cut their target price on Marzetti from $168.00 to $130.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marzetti in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $132.50.
Check Out Our Latest Report on MZTI
Marzetti Stock Down 3.3%
Shares of NASDAQ MZTI opened at $104.93 on Wednesday. The company has a market cap of $2.86 billion, a P/E ratio of 16.15 and a beta of 0.34. 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 business has a 50-day simple moving average of $104.61 and a two-hundred day simple moving average of $123.69. Marzetti has a 52 week low of $97.00 and a 52 week high of $176.26.
Marzetti (NASDAQ:MZTI – Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.23). The company had revenue of $481.52 million for the quarter. Marzetti had a net margin of 9.93% and a return on equity of 18.22%. Marzetti’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.74 earnings per share.
Marzetti Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th were given a $1.00 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.8%. Marzetti’s payout ratio is presently 63.19%.
Insider Buying and Selling
In other news, CEO Luis Viso sold 997 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $100.81, for a total value of $100,507.57. Following the completion of the transaction, the chief executive officer directly owned 1,047 shares of the company’s stock, valued at approximately $105,548.07. The trade was a 48.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 29.30% of the company’s stock.
Institutional Investors Weigh In On Marzetti
Institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its stake in Marzetti by 237.5% in the second quarter. NewEdge Advisors LLC now owns 216 shares of the company’s stock valued at $25,000 after purchasing an additional 152 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Marzetti by 796.3% in the second quarter. IFP Advisors Inc now owns 242 shares of the company’s stock worth $28,000 after buying an additional 215 shares during the period. Rockefeller Capital Management L.P. purchased a new position in shares of Marzetti during the fourth quarter worth approximately $35,000. Versant Capital Management Inc grew its position in Marzetti by 447.8% during the second quarter. Versant Capital Management Inc now owns 378 shares of the company’s stock valued at $43,000 after buying an additional 309 shares during the period. Finally, State of Wyoming acquired a new position in shares of Marzetti in the 1st quarter worth approximately $56,000. Institutional investors and hedge funds own 66.44% of the company’s stock.
About Marzetti
T. Marzetti Company is a food manufacturer and marketer based in Columbus, Ohio. The company develops, produces and distributes specialty food products for retail and foodservice customers, with a portfolio focused on dressings, dips, sauces, frozen breads and related prepared foods.
Its brand portfolio includes Marzetti, Simply Dressed, New York Bakery, Sister Schubert’s, Flatout, Cardini’s and Girard’s, among others. These products are sold through grocery retailers and other retail channels, while the company also supplies restaurants, institutional foodservice operators and other commercial customers.
The company traces its roots to 1896, when Teresa Marzetti opened a restaurant in Columbus, Ohio.