Three Seasons Wealth LLC Buys New Position in The Marzetti Company $MZTI

Three Seasons Wealth LLC acquired a new stake in shares of The Marzetti Company (NASDAQ:MZTI) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 5,777 shares of the company’s stock, valued at approximately $799,000.

A number of other hedge funds also recently made changes to their positions in MZTI. Oregon Public Employees Retirement Fund increased its stake in Marzetti by 2.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 4,162 shares of the company’s stock valued at $576,000 after acquiring an additional 100 shares during the last quarter. State of Michigan Retirement System lifted its stake in Marzetti by 2.1% during the first quarter. State of Michigan Retirement System now owns 4,932 shares of the company’s stock worth $682,000 after purchasing an additional 100 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Marzetti in the 4th quarter worth about $32,000. Parkside Financial Bank & Trust purchased a new position in shares of Marzetti in the 4th quarter worth about $32,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Marzetti during the 4th quarter valued at about $33,000. 66.44% of the stock is owned by institutional investors.

Marzetti Stock Down 1.4%

NASDAQ MZTI opened at $105.47 on Thursday. The company has a 50-day simple moving average of $111.74 and a two-hundred day simple moving average of $138.58. The Marzetti Company has a 12-month low of $104.28 and a 12-month high of $190.96. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 16.51 and a beta of 0.32.

Marzetti Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, June 5th. Marzetti’s dividend payout ratio is currently 62.60%.

Analyst Ratings Changes

A number of brokerages recently weighed in on MZTI. Stephens decreased their price objective on Marzetti from $160.00 to $140.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Weiss Ratings lowered Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Finally, DA Davidson upgraded shares of Marzetti to a “hold” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $169.33.

Insiders Place Their Bets

In other Marzetti news, insider Luis Viso sold 1,221 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $109.31, for a total transaction of $133,467.51. Following the completion of the sale, the insider owned 1,924 shares of the company’s stock, valued at $210,312.44. This represents a 38.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 29.10% of the stock is owned by insiders.

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.