Zurcher Kantonalbank Zurich Cantonalbank Makes New Investment in The Marzetti Company $MZTI

Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of The Marzetti Company (NASDAQ:MZTI) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 5,853 shares of the company’s stock, valued at approximately $962,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Marzetti during the 4th quarter worth approximately $33,000. Lodestone Wealth Management LLC purchased a new position in Marzetti during the 4th quarter worth approximately $37,000. Farther Finance Advisors LLC purchased a new position in Marzetti during the 4th quarter worth approximately $52,000. Blue Trust Inc. purchased a new position in Marzetti during the 4th quarter worth approximately $57,000. Finally, Nisa Investment Advisors LLC purchased a new position in Marzetti during the 4th quarter worth approximately $62,000. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

Marzetti Stock Up 1.4%

MZTI stock opened at $130.28 on Friday. The Marzetti Company has a twelve month low of $124.25 and a twelve month high of $190.96. The company has a market cap of $3.57 billion, a PE ratio of 19.95 and a beta of 0.47. The business’s 50-day simple moving average is $145.69 and its 200 day simple moving average is $158.84.

Marzetti (NASDAQ:MZTI) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.08). Marzetti had a return on equity of 18.55% and a net margin of 9.25%.The firm had revenue of $509.77 million during the quarter. The firm’s quarterly revenue was up 1.7% on a year-over-year basis.

Marzetti Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, March 6th. Marzetti’s dividend payout ratio is 61.26%.

Analyst Ratings Changes

MZTI has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Marzetti in a research report on Friday, January 9th. Wall Street Zen cut shares of Marzetti from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Stephens lowered their price target on shares of Marzetti from $180.00 to $160.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, DA Davidson lowered 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 research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $176.00.

About Marzetti

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.