Healthcare of Ontario Pension Plan Trust Fund Trims Position in The Marzetti Company $MZTI

Healthcare of Ontario Pension Plan Trust Fund decreased its position in The Marzetti Company (NASDAQ:MZTI) by 24.2% during the first quarter, Holdings Channel reports. The fund owned 37,848 shares of the company’s stock after selling 12,070 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Marzetti were worth $5,236,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Private Wealth Group LLC bought a new stake in shares of Marzetti during the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust bought a new position in shares of Marzetti in the 4th quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Marzetti in the fourth quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Marzetti in the fourth quarter worth approximately $33,000. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Marzetti in the fourth quarter worth approximately $35,000. 66.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on MZTI shares. DA Davidson raised shares of Marzetti to a “hold” rating in a report on Monday, July 6th. Weiss Ratings cut shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Finally, Stephens cut their price objective on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. One investment 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. According to MarketBeat.com, Marzetti presently has a consensus rating of “Hold” and a consensus target price of $169.33.

Insider Transactions at Marzetti

In related news, insider Luis Viso sold 1,221 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $109.31, for a total value of $133,467.51. Following the completion of the sale, the insider directly owned 1,924 shares of the company’s stock, valued at approximately $210,312.44. This represents a 38.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 29.10% of the company’s stock.

Marzetti Stock Up 1.0%

Shares of MZTI opened at $111.24 on Thursday. The business has a 50-day simple moving average of $110.70 and a two-hundred day simple moving average of $134.62. The Marzetti Company has a 52 week low of $104.28 and a 52 week high of $190.96. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 17.41 and a beta of 0.32.

Marzetti Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, June 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.6%. 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.