The Marzetti Company $MZTI Shares Sold by Vest Financial LLC

Vest Financial LLC lessened its stake in shares of The Marzetti Company (NASDAQ:MZTI) by 17.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 40,204 shares of the company’s stock after selling 8,243 shares during the period. Vest Financial LLC’s holdings in Marzetti were worth $3,988,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in Marzetti in the fourth quarter worth approximately $33,000. Rockefeller Capital Management L.P. bought a new stake in Marzetti during the 4th quarter valued at $35,000. NewEdge Advisors LLC lifted its holdings in shares of Marzetti by 237.5% in the 2nd quarter. NewEdge Advisors LLC now owns 216 shares of the company’s stock worth $25,000 after buying an additional 152 shares during the period. IFP Advisors Inc lifted its holdings in shares of Marzetti by 796.3% in the 2nd quarter. IFP Advisors Inc now owns 242 shares of the company’s stock worth $28,000 after buying an additional 215 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Marzetti by 447.8% in the 2nd quarter. Versant Capital Management Inc now owns 378 shares of the company’s stock worth $43,000 after buying an additional 309 shares during the period. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Marzetti Trading Down 2.8%

NASDAQ MZTI opened at $109.13 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.56 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.98 billion, a PE ratio of 16.35 and a beta of 0.35. The company has a 50 day moving average price of $105.53 and a 200 day moving average price of $112.64. The Marzetti Company has a 52 week low of $97.00 and a 52 week high of $176.26.

Marzetti (NASDAQ:MZTI) last posted its earnings results on Tuesday, August 25th. The company reported $1.46 EPS for the quarter. The company had revenue of $465.03 million during the quarter. Marzetti had a net margin of 9.93% and a return on equity of 18.22%.

Marzetti Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.7%. Marzetti’s dividend payout ratio is presently 57.39%.

Insider Activity

In other news, CEO Luis Viso sold 997 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $100.81, for a total transaction of $100,507.57. Following the completion of the sale, the chief executive officer owned 1,047 shares in the company, valued at approximately $105,548.07. This represents a 48.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 29.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Stephens reissued an “equal weight” rating and set a $140.00 price target on shares of Marzetti in a research report on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marzetti in a research report on Monday, August 17th. Finally, DA Davidson lowered their price target on shares of Marzetti from $168.00 to $130.00 and set a “neutral” rating for the company in a research report on Wednesday, August 26th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $135.00.

About Marzetti

T. Marzetti Company is a food manufacturer and marketer based in Columbus, Ohio. The company develops, produces and distributes specialty food products for retail and foodservice customers, with a portfolio focused on dressings, dips, sauces, frozen breads and related prepared foods.

Its brand portfolio includes Marzetti, Simply Dressed, New York Bakery, Sister Schubert’s, Flatout, Cardini’s and Girard’s, among others. These products are sold through grocery retailers and other retail channels, while the company also supplies restaurants, institutional foodservice operators and other commercial customers.

The company traces its roots to 1896, when Teresa Marzetti opened a restaurant in Columbus, Ohio.