Marzetti (NASDAQ:MZTI) CEO Luis Viso Sells 997 Shares

The Marzetti Company (NASDAQ:MZTI) CEO Luis Viso sold 997 shares of Marzetti stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $100.81, for a total value of $100,507.57. Following the completion of the sale, the chief executive officer owned 1,047 shares in the company, valued at $105,548.07. This represents a 48.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Marzetti Stock Performance

NASDAQ MZTI opened at $104.05 on Friday. The stock has a market cap of $2.84 billion, a PE ratio of 14.93 and a beta of 0.35. The company has a current ratio of 1.56, a quick ratio of 0.67 and a debt-to-equity ratio of 0.18. The Marzetti Company has a twelve month low of $100.20 and a twelve month high of $185.27. The stock has a fifty day simple moving average of $110.72 and a 200-day simple moving average of $122.98.

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

Marzetti Dividend Announcement

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 issued a $1.00 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $4.00 dividend on an annualized basis and a yield of 3.8%. Marzetti’s dividend payout ratio (DPR) is 57.39%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Marzetti

Institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC purchased a new stake in Marzetti during the fourth quarter worth approximately $32,000. Parkside Financial Bank & Trust purchased a new position in Marzetti in the fourth quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd acquired a new stake in Marzetti during the fourth quarter worth approximately $33,000. Rockefeller Capital Management L.P. acquired a new stake in Marzetti during the fourth quarter worth approximately $35,000. Finally, NewEdge Advisors LLC lifted its position in shares of Marzetti by 237.5% during the 2nd quarter. NewEdge Advisors LLC now owns 216 shares of the company’s stock worth $25,000 after buying an additional 152 shares during the last quarter. 66.44% of the stock is owned by hedge funds and other institutional investors.

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.