630,508 Shares in The Marzetti Company $MZTI Purchased by Geode Capital Management LLC

Geode Capital Management LLC acquired a new position in shares of The Marzetti Company (NASDAQ:MZTI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 630,508 shares of the company’s stock, valued at approximately $103,681,000.

A number of other institutional investors have also added to or reduced their stakes in MZTI. M&T Bank Corp purchased a new stake in Marzetti during the 4th quarter worth about $1,118,569,000. Vanguard Group Inc. purchased a new stake in Marzetti during the 4th quarter worth about $367,969,000. William Blair Investment Management LLC purchased a new stake in Marzetti during the 4th quarter worth about $90,041,000. Boston Trust Walden Corp bought a new position in shares of Marzetti in the fourth quarter worth $43,355,000. Finally, Principal Financial Group Inc. bought a new position in shares of Marzetti in the fourth quarter worth $40,196,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MZTI shares. Stephens decreased their price target on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Weiss Ratings cut shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Finally, DA Davidson decreased their price target on shares of Marzetti from $184.00 to $168.00 and set a “neutral” rating on the stock in a report on Monday, March 16th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Marzetti has a consensus rating of “Hold” and an average price target of $169.33.

Marzetti Stock Performance

Marzetti stock opened at $107.36 on Friday. The stock has a market cap of $2.94 billion, a P/E ratio of 16.80 and a beta of 0.33. The Marzetti Company has a fifty-two week low of $105.80 and a fifty-two week high of $190.96. The firm’s fifty day moving average price is $125.27 and its 200-day moving average price is $149.70.

Marzetti Dividend Announcement

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 given a $1.00 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.00 annualized dividend and a yield of 3.7%. Marzetti’s payout ratio is 62.60%.

Marzetti 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.