Insider Selling: Marzetti (NASDAQ:MZTI) Insider Sells 1,221 Shares of Stock

The Marzetti Company (NASDAQ:MZTI) insider Luis Viso sold 1,221 shares of Marzetti stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $109.31, for a total transaction of $133,467.51. Following the completion of the transaction, the insider owned 1,924 shares in the company, valued at $210,312.44. This trade represents a 38.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Marzetti Trading Up 1.7%

MZTI traded up $1.90 during trading on Friday, hitting $111.36. The stock had a trading volume of 146,481 shares, compared to its average volume of 286,910. The firm has a market cap of $3.05 billion, a PE ratio of 17.42 and a beta of 0.33. The Marzetti Company has a 12 month low of $105.80 and a 12 month high of $190.96. The company has a 50 day simple moving average of $122.89 and a 200-day simple moving average of $147.83.

Marzetti Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.00 dividend on an annualized basis and a yield of 3.6%. Marzetti’s payout ratio is presently 62.60%.

Hedge Funds Weigh In On Marzetti

Several hedge funds have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC bought a new stake in shares of Marzetti during the 4th quarter worth approximately $32,000. Parkside Financial Bank & Trust bought a new position in Marzetti in the fourth quarter valued at approximately $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Marzetti in the fourth quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd bought a new position in Marzetti in the fourth quarter valued at about $33,000. Finally, Rockefeller Capital Management L.P. bought a new position in Marzetti in the fourth quarter valued at about $35,000. Institutional investors own 66.44% of the company’s stock.

Wall Street Analysts Forecast Growth

MZTI has been the topic of several research analyst reports. DA Davidson decreased 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 downgraded shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Finally, Stephens reduced their price target on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $169.33.

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.