Marzetti (NASDAQ:MZTI) Sets New 1-Year Low – Here’s What Happened

The Marzetti Company (NASDAQ:MZTI) shares hit a new 52-week low on Friday . The company traded as low as $105.80 and last traded at $107.35, with a volume of 34602 shares. The stock had previously closed at $106.47.

Analysts Set New Price Targets

MZTI has been the subject of a number of recent research reports. Weiss Ratings lowered shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Stephens lowered their price objective on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Finally, DA Davidson lowered their price objective on shares of Marzetti from $184.00 to $168.00 and set a “neutral” rating for the company 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 company. Based on data from MarketBeat.com, Marzetti presently has a consensus rating of “Hold” and an average target price of $169.33.

Marzetti Trading Up 0.8%

The stock’s fifty day moving average price is $125.27 and its two-hundred day moving average price is $149.70. The stock has a market capitalization of $2.94 billion, a P/E ratio of 16.80 and a beta of 0.33.

Marzetti Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, June 5th. Marzetti’s payout ratio is presently 62.60%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MZTI. CIBC Private Wealth Group LLC purchased a new position in shares of Marzetti in the fourth quarter worth $32,000. Parkside Financial Bank & Trust purchased a new position in shares of Marzetti in the fourth quarter worth $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Marzetti in the fourth quarter worth $33,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Marzetti in the fourth quarter worth $33,000. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Marzetti in the fourth quarter worth $35,000. 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.