Marzetti (NASDAQ:MZTI) Reaches New 12-Month Low – Should You Sell?

The Marzetti Company (NASDAQ:MZTI)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $104.28 and last traded at $104.72, with a volume of 442763 shares trading hands. The stock had previously closed at $107.06.

Analyst Upgrades and Downgrades

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

Marzetti Price Performance

The firm has a fifty day simple moving average of $116.68 and a 200 day simple moving average of $144.15. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 17.62 and a beta of 0.33.

Marzetti Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, June 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.6%. Marzetti’s dividend payout ratio (DPR) is 62.60%.

Insider Transactions at Marzetti

In related news, insider Luis Viso sold 1,221 shares of the business’s stock in a transaction 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 owned 1,924 shares of the company’s stock, valued at approximately $210,312.44. The trade was a 38.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Marzetti

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. M&T Bank Corp purchased a new stake in shares of Marzetti during the fourth quarter worth about $1,118,569,000. Vanguard Group Inc. purchased a new position in Marzetti in the 4th quarter valued at about $367,969,000. State Street Corp acquired a new stake in Marzetti in the 4th quarter worth about $160,722,000. First Trust Advisors LP acquired a new stake in Marzetti in the 4th quarter worth about $111,778,000. Finally, Geode Capital Management LLC acquired a new stake in Marzetti in the 4th quarter worth about $103,681,000. 66.44% of the stock is owned by hedge funds and other institutional investors.

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.