The Marzetti Company $MZTI Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp decreased its holdings in The Marzetti Company (NASDAQ:MZTI) by 11.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 232,596 shares of the company’s stock after selling 31,090 shares during the period. Boston Trust Walden Corp’s holdings in Marzetti were worth $32,175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CIBC Private Wealth Group LLC acquired a new stake in Marzetti in the 4th quarter valued at approximately $32,000. Parkside Financial Bank & Trust bought a new position in Marzetti in the 4th quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Marzetti during the fourth quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Marzetti during the fourth quarter worth approximately $33,000. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Marzetti in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Insiders Place Their Bets

In related news, insider Luis Viso sold 1,221 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $109.31, for a total value of $133,467.51. Following the sale, the insider owned 1,924 shares of the company’s stock, valued at $210,312.44. The trade was a 38.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 29.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MZTI shares. Weiss Ratings lowered shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. DA Davidson reduced their price target on shares of Marzetti from $184.00 to $168.00 and set a “neutral” rating for the company in a report on Monday, March 16th. Finally, Stephens dropped their price objective 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. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Marzetti currently has an average rating of “Hold” and a consensus target price of $169.33.

Marzetti Price Performance

MZTI opened at $115.79 on Friday. The company has a market capitalization of $3.17 billion, a P/E ratio of 18.12 and a beta of 0.32. The firm’s fifty day moving average price is $113.96 and its two-hundred day moving average price is $141.99. The Marzetti Company has a fifty-two week low of $104.28 and a fifty-two week high of $190.96.

Marzetti Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, June 5th. Marzetti’s payout ratio is 62.60%.

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.