Hamilton Capital LLC Takes $1.35 Million Position in The Marzetti Company $MZTI

Hamilton Capital LLC purchased a new stake in The Marzetti Company (NASDAQ:MZTI) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,822 shares of the company’s stock, valued at approximately $1,350,000. Marzetti makes up approximately 0.1% of Hamilton Capital LLC’s portfolio, making the stock its 27th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Marzetti during the 2nd quarter worth approximately $313,083,000. Vanguard Group Inc. acquired a new stake in shares of Marzetti in the fourth quarter valued at approximately $367,969,000. State Street Corp acquired a new stake in shares of Marzetti in the fourth quarter valued at approximately $160,722,000. First Trust Advisors LP boosted its stake in shares of Marzetti by 18.2% in the first quarter. First Trust Advisors LP now owns 803,707 shares of the company’s stock valued at $111,177,000 after buying an additional 123,875 shares during the period. Finally, Geode Capital Management LLC bought a new stake in shares of Marzetti in the fourth quarter valued at approximately $103,681,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 transaction, the insider owned 1,924 shares of the company’s stock, valued at $210,312.44. This represents a 38.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 29.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

MZTI has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Marzetti in a research note on Monday, August 17th. Stephens reissued an “equal weight” rating and set a $140.00 target price on shares of Marzetti in a report on Wednesday. Finally, DA Davidson decreased their price target on Marzetti from $168.00 to $130.00 and set a “neutral” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Marzetti presently has a consensus rating of “Reduce” and a consensus target price of $135.00.

Marzetti Stock Performance

NASDAQ:MZTI opened at $112.53 on Friday. The Marzetti Company has a twelve month low of $104.28 and a twelve month high of $186.95. The company has a quick ratio of 1.70, a current ratio of 1.56 and a debt-to-equity ratio of 0.18. The stock’s 50-day simple moving average is $111.95 and its 200 day simple moving average is $126.76. The firm has a market capitalization of $3.07 billion, a PE ratio of 16.14 and a beta of 0.32.

Marzetti (NASDAQ:MZTI) last issued its earnings results on Tuesday, August 25th. The company reported $1.46 EPS for the quarter. The firm had revenue of $465.03 million during the quarter. Marzetti had a return on equity of 18.22% and a net margin of 9.93%.

Marzetti Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, September 8th. Marzetti’s dividend payout ratio is currently 62.60%.

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.