Handelsbanken Fonder AB Invests $965,000 in The Marzetti Company $MZTI

Handelsbanken Fonder AB acquired a new position in shares of The Marzetti Company (NASDAQ:MZTI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,872 shares of the company’s stock, valued at approximately $965,000.

Several other large investors also recently made changes to their positions in the stock. M&T Bank Corp bought a new stake in shares of Marzetti during the fourth quarter worth $1,118,569,000. Vanguard Group Inc. bought a new stake in shares of Marzetti during the fourth quarter worth $367,969,000. Boston Trust Walden Corp bought a new stake in shares of Marzetti during the fourth quarter worth $43,355,000. Principal Financial Group Inc. bought a new stake in shares of Marzetti during the fourth quarter worth $40,196,000. Finally, ProShare Advisors LLC bought a new stake in shares of Marzetti during the fourth quarter worth $38,625,000. Institutional investors own 66.44% of the company’s stock.

Wall Street Analysts Forecast Growth

MZTI has been the subject of several research reports. Wall Street Zen downgraded shares of Marzetti from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Stephens lowered their price objective on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. DA Davidson lowered their price objective on shares of Marzetti from $184.00 to $168.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Finally, Weiss Ratings downgraded shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $169.33.

Marzetti Trading Down 0.6%

Marzetti stock opened at $114.27 on Wednesday. The company has a market cap of $3.13 billion, a P/E ratio of 17.88 and a beta of 0.38. The Marzetti Company has a 1-year low of $110.31 and a 1-year high of $190.96. The company has a fifty day simple moving average of $130.41 and a 200 day simple moving average of $153.05.

Marzetti Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.00 dividend on an annualized basis and a yield of 3.5%. Marzetti’s dividend payout ratio (DPR) is 62.60%.

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.