Marzetti (NASDAQ:MZTI) Hits New 1-Year Low – Should You Sell?

The Marzetti Company (NASDAQ:MZTI) shares hit a new 52-week low on Wednesday . The stock traded as low as $150.16 and last traded at $152.8850, with a volume of 76988 shares. The stock had previously closed at $157.61.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen cut Marzetti from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. DA Davidson reiterated a “neutral” rating and issued a $184.00 target price on shares of Marzetti in a research note on Wednesday, February 4th. Weiss Ratings restated a “hold (c)” rating on shares of Marzetti in a research note on Friday, January 9th. Finally, Stephens decreased their price target on Marzetti from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $188.00.

Marzetti Stock Performance

The company has a market cap of $4.14 billion, a price-to-earnings ratio of 23.18 and a beta of 0.40. The company has a 50-day simple moving average of $163.82 and a 200-day simple moving average of $168.24.

Marzetti (NASDAQ:MZTI) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.08). The business had revenue of $509.77 million during the quarter. Marzetti had a net margin of 9.25% and a return on equity of 18.55%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts forecast that The Marzetti Company will post 6.8 EPS for the current year.

Marzetti Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.6%. Marzetti’s dividend payout ratio (DPR) is 61.26%.

Hedge Funds Weigh In On Marzetti

Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Marzetti by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 212,720 shares of the company’s stock worth $36,752,000 after buying an additional 1,707 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Marzetti in the 4th quarter valued at about $291,000. Yousif Capital Management LLC purchased a new position in Marzetti during the 4th quarter valued at about $1,060,000. Bartlett & CO. Wealth Management LLC purchased a new position in Marzetti during the 4th quarter valued at about $329,000. Finally, Triad Wealth Partners LLC acquired a new position in Marzetti during the fourth quarter worth about $629,000. 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.