Marzetti (NASDAQ:MZTI) Hits New 52-Week Low – Should You Sell?

Shares of The Marzetti Company (NASDAQ:MZTI) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $105.80 and last traded at $107.35, with a volume of 34602 shares changing hands. The stock had previously closed at $106.47.

Wall Street Analysts Forecast Growth

MZTI has been the subject of several analyst reports. Weiss Ratings downgraded Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Stephens dropped their price objective on Marzetti from $160.00 to $140.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Finally, DA Davidson dropped their price objective on Marzetti from $184.00 to $168.00 and set a “neutral” rating on the stock in a report on Monday, March 16th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $169.33.

Marzetti Trading Up 2.2%

The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 17.02 and a beta of 0.33. The business has a 50-day moving average price of $125.92 and a two-hundred day moving average price of $150.00.

Marzetti Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, June 5th. Marzetti’s payout ratio is presently 62.60%.

Institutional Trading of Marzetti

Hedge funds and other institutional investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC acquired a new stake in shares of Marzetti in the fourth quarter worth $32,000. Parkside Financial Bank & Trust acquired a new stake in Marzetti during the fourth quarter valued at $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Marzetti during the fourth quarter valued at $33,000. Caitong International Asset Management Co. Ltd acquired a new stake in Marzetti during the fourth quarter valued at $33,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Marzetti during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

About Marzetti

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.