Marzetti (NASDAQ:MZTI) CEO Sells $100,507.57 in Stock

The Marzetti Company (NASDAQ:MZTI) CEO Luis Viso sold 997 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $100.81, for a total value of $100,507.57. Following the transaction, the chief executive officer owned 1,047 shares in the company, valued at $105,548.07. The trade was a 48.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Marzetti Stock Performance

Shares of MZTI stock opened at $104.05 on Monday. The company has a current ratio of 1.56, a quick ratio of 0.67 and a debt-to-equity ratio of 0.18. The stock has a 50 day simple moving average of $110.72 and a 200-day simple moving average of $122.69. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 14.93 and a beta of 0.35. The Marzetti Company has a 12-month low of $100.20 and a 12-month high of $185.27.

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

Marzetti Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 8th. Marzetti’s payout ratio is presently 57.39%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its position in Marzetti by 2.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 4,162 shares of the company’s stock worth $576,000 after buying an additional 100 shares during the period. State of Michigan Retirement System boosted its holdings in shares of Marzetti by 2.1% during the first quarter. State of Michigan Retirement System now owns 4,932 shares of the company’s stock valued at $682,000 after acquiring an additional 100 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Marzetti by 237.5% during the second quarter. NewEdge Advisors LLC now owns 216 shares of the company’s stock valued at $25,000 after acquiring an additional 152 shares during the period. CIBC Private Wealth Group LLC bought a new position in shares of Marzetti during the fourth quarter worth about $32,000. Finally, Parkside Financial Bank & Trust acquired a new stake in shares of Marzetti in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Analysts Set New Price Targets

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

About Marzetti

Marzetti is a food manufacturer and marketer known for producing salad dressings, dips, sauces, frozen breads, pasta products and other specialty foods. Its products are sold through retail grocery channels and are also supplied to restaurants, foodservice operators and other institutional customers.

The company’s portfolio includes the Marzetti, Sister Schubert’s, New York Bakery, Flatout, Reames, Cardini’s and Girard’s brands, among others. Its offerings range from refrigerated and shelf-stable dressings and dips to frozen rolls, garlic bread, flatbreads, frozen noodles and related prepared foods.

Marzetti traces its origins to a restaurant opened by Teresa Marzetti in Columbus, Ohio, in 1896.