26,933 Shares in The Marzetti Company $MZTI Purchased by Man Group plc

Man Group plc acquired a new position in The Marzetti Company (NASDAQ:MZTI) in the second quarter, Holdings Channel reports. The fund acquired 26,933 shares of the company’s stock, valued at approximately $3,075,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MZTI. Jupiter Topco LLC bought a new position in shares of Marzetti during the 2nd quarter worth approximately $6,173,000. Ancora Advisors LLC purchased a new stake in shares of Marzetti during the 2nd quarter valued at $748,000. Canada Pension Plan Investment Board purchased a new position in shares of Marzetti in the 2nd quarter worth about $1,039,000. Legal & General Group Plc bought a new stake in Marzetti in the second quarter worth about $3,170,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Marzetti in the second quarter valued at about $2,231,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Marzetti Stock Down 1.9%

MZTI opened at $112.65 on Tuesday. The Marzetti Company has a 12 month low of $104.28 and a 12 month high of $186.95. The company has a market cap of $3.07 billion, a PE ratio of 16.16 and a beta of 0.32. 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 company has a 50 day moving average of $112.27 and a 200 day moving average of $126.19.

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

Marzetti Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $4.00 dividend on an annualized basis and a yield of 3.6%. Marzetti’s dividend payout ratio is 57.39%.

Insider Transactions at Marzetti

In other Marzetti news, insider Luis Viso sold 1,221 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $109.31, for a total value 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 available through this hyperlink. Company insiders own 29.10% of the company’s stock.

Analysts Set New Price Targets

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

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.