Marzetti (NASDAQ:MZTI) Sets New 52-Week Low – Here’s Why

The Marzetti Company (NASDAQ:MZTI)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $137.46 and last traded at $138.4850, with a volume of 14830 shares traded. The stock had previously closed at $141.07.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. DA Davidson lowered their target price on Marzetti from $184.00 to $168.00 and set a “neutral” rating on the stock in a report on Monday, March 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Marzetti in a report on Friday, January 9th. Wall Street Zen downgraded Marzetti from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Stephens decreased their price objective on Marzetti from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 4th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $182.67.

Marzetti Trading Up 1.3%

The company has a market cap of $3.89 billion, a price-to-earnings ratio of 21.70 and a beta of 0.40. The stock’s 50 day moving average price is $159.06 and its 200 day moving average price is $165.50.

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

Marzetti Dividend Announcement

The business also recently declared 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, March 6th. Marzetti’s dividend payout ratio (DPR) is 61.26%.

Institutional Trading of Marzetti

A number of institutional investors and hedge funds have recently made changes to their positions in MZTI. CIBC Private Wealth Group LLC acquired a new position in Marzetti in the fourth quarter valued at $32,000. Parkside Financial Bank & Trust purchased a new stake in Marzetti during the fourth quarter valued at about $32,000. Caitong International Asset Management Co. Ltd acquired a new stake in Marzetti during the fourth quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Marzetti during the fourth quarter worth about $33,000. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Marzetti in the 4th quarter worth about $35,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

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.