Marzetti (NASDAQ:MZTI) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of The Marzetti Company (NASDAQ:MZTI) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $172.03 and traded as high as $174.86. Marzetti shares last traded at $171.69, with a volume of 139,011 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MZTI. Benchmark boosted their price target on Marzetti from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. Stephens reissued an “equal weight” rating and issued a $190.00 target price on shares of Marzetti in a research note on Thursday, September 11th. DA Davidson lifted their price target on Marzetti from $179.00 to $184.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Marzetti in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $191.33.

Marzetti Price Performance

The stock has a market cap of $4.73 billion, a PE ratio of 27.87 and a beta of 0.42. The company has a 50 day moving average price of $167.03 and a two-hundred day moving average price of $172.03.

Marzetti (NASDAQ:MZTI) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.70 by $0.01. Marzetti had a return on equity of 18.86% and a net margin of 8.77%.The company had revenue of $482.78 million during the quarter. During the same quarter in the previous year, the business posted $1.62 earnings per share. Marzetti’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that The Marzetti Company will post 6.8 earnings per share for the current fiscal year.

Marzetti Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, December 5th. Marzetti’s payout ratio is presently 64.94%.

Institutional Investors Weigh In On Marzetti

A number of large investors have recently added to or reduced their stakes in the stock. Nuveen LLC bought a new position in shares of Marzetti during the 1st quarter valued at $10,456,000. Russell Investments Group Ltd. increased its position in Marzetti by 176.2% during the first quarter. Russell Investments Group Ltd. now owns 24,390 shares of the company’s stock valued at $4,268,000 after acquiring an additional 15,558 shares during the last quarter. American Century Companies Inc. lifted its holdings in Marzetti by 145.8% in the first quarter. American Century Companies Inc. now owns 18,274 shares of the company’s stock valued at $3,198,000 after acquiring an additional 10,838 shares during the period. Wellington Management Group LLP boosted its position in Marzetti by 18.0% in the first quarter. Wellington Management Group LLP now owns 12,710 shares of the company’s stock worth $2,224,000 after purchasing an additional 1,939 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Marzetti by 15.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 28,329 shares of the company’s stock valued at $4,958,000 after purchasing an additional 3,736 shares during the period. Institutional investors own 66.44% of the company’s stock.

About Marzetti

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.