Marzetti (NASDAQ:MZTI) Reaches New 12-Month Low – What’s Next?

The Marzetti Company (NASDAQ:MZTI)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $100.13 and last traded at $100.00, with a volume of 75259 shares traded. The stock had previously closed at $102.94.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MZTI shares. DA Davidson lowered their price objective on shares of Marzetti from $168.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Marzetti in a research report on Monday, August 17th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $140.00 price target on shares of Marzetti in a report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $135.00.

Marzetti Price Performance

The company has a 50 day moving average of $110.10 and a 200 day moving average of $121.36. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 14.77 and a beta of 0.35. The company has a quick ratio of 0.67, a current ratio of 1.56 and a debt-to-equity ratio of 0.18.

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

Marzetti Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be given a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $4.00 annualized dividend and a dividend yield of 3.9%. Marzetti’s dividend payout ratio (DPR) is currently 57.39%.

Insider Transactions at Marzetti

In related news, CEO Luis Viso sold 997 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $100.81, for a total transaction of $100,507.57. Following the completion of the transaction, the chief executive officer owned 1,047 shares of the company’s stock, valued at approximately $105,548.07. This represents a 48.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Marzetti

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Marzetti during the 2nd quarter worth $313,083,000. First Trust Advisors LP grew its position in Marzetti by 18.2% during the first quarter. First Trust Advisors LP now owns 803,707 shares of the company’s stock valued at $111,177,000 after acquiring an additional 123,875 shares during the period. Geode Capital Management LLC purchased a new stake in Marzetti during the fourth quarter valued at about $103,681,000. William Blair Investment Management LLC acquired a new stake in Marzetti during the fourth quarter worth about $90,041,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Marzetti by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 555,702 shares of the company’s stock worth $76,873,000 after purchasing an additional 7,671 shares during the period. Institutional investors and hedge funds own 66.44% of the company’s stock.

About Marzetti

Marzetti is a food manufacturer and marketer known for producing salad dressings, dips, sauces, frozen breads, pasta products and other specialty foods. Its products are sold through retail grocery channels and are also supplied to restaurants, foodservice operators and other institutional customers.

The company’s portfolio includes the Marzetti, Sister Schubert’s, New York Bakery, Flatout, Reames, Cardini’s and Girard’s brands, among others. Its offerings range from refrigerated and shelf-stable dressings and dips to frozen rolls, garlic bread, flatbreads, frozen noodles and related prepared foods.

Marzetti traces its origins to a restaurant opened by Teresa Marzetti in Columbus, Ohio, in 1896.