Luis Viso Sells 1,221 Shares of Marzetti (NASDAQ:MZTI) Stock

The Marzetti Company (NASDAQ:MZTI) insider Luis Viso sold 1,221 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $109.31, for a total value of $133,467.51. Following the transaction, the insider owned 1,924 shares in the company, valued at approximately $210,312.44. This trade represents a 38.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Marzetti Stock Performance

Shares of MZTI stock opened at $111.61 on Friday. The Marzetti Company has a fifty-two week low of $105.80 and a fifty-two week high of $190.96. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 17.47 and a beta of 0.33. The stock’s 50-day simple moving average is $122.35 and its 200-day simple moving average is $147.58.

Marzetti Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, June 5th. Marzetti’s payout ratio is presently 62.60%.

Hedge Funds Weigh In On Marzetti

Large investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC acquired a new position in Marzetti in the 4th quarter worth about $32,000. Parkside Financial Bank & Trust acquired a new position in Marzetti in the 4th quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Marzetti in the 4th quarter worth about $33,000. Caitong International Asset Management Co. Ltd acquired a new position in Marzetti in the 4th quarter worth about $33,000. Finally, Rockefeller Capital Management L.P. acquired a new position in Marzetti in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.