Tidal Investments LLC Grows Stock Position in The Marzetti Company $MZTI

Tidal Investments LLC boosted its holdings in The Marzetti Company (NASDAQ:MZTI) by 53.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,371 shares of the company’s stock after buying an additional 10,281 shares during the period. Tidal Investments LLC’s holdings in Marzetti were worth $3,353,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its stake in shares of Marzetti by 237.5% during the 2nd 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 last quarter. IFP Advisors Inc boosted its position in shares of Marzetti by 796.3% in the second quarter. IFP Advisors Inc now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 215 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Marzetti in the fourth quarter valued at approximately $33,000. Rockefeller Capital Management L.P. purchased a new stake in Marzetti in the fourth quarter valued at approximately $35,000. Finally, Versant Capital Management Inc increased its position in Marzetti by 447.8% during the second quarter. Versant Capital Management Inc now owns 378 shares of the company’s stock worth $43,000 after purchasing an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Marzetti news, CEO Luis Viso sold 997 shares of the company’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 completion of the transaction, the chief executive officer owned 1,047 shares in the company, valued at $105,548.07. This represents a 48.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 29.10% of the company’s stock.

Marzetti Trading Down 1.1%

NASDAQ:MZTI opened at $102.94 on Tuesday. The business’s 50-day moving average is $110.53 and its two-hundred day moving average is $122.25. The firm has a market capitalization of $2.81 billion, a PE ratio of 14.77 and a beta of 0.35. The Marzetti Company has a 12 month low of $100.20 and a 12 month high of $184.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.56 and a quick ratio of 0.67.

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

Marzetti Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $4.00 annualized dividend and a yield of 3.9%. Marzetti’s payout ratio is 57.39%.

Marzetti Profile

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.