GW&K Investment Management LLC Invests $39.13 Million in The Marzetti Company $MZTI

GW&K Investment Management LLC 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 fund acquired 238,005 shares of the company’s stock, valued at approximately $39,133,000. GW&K Investment Management LLC owned approximately 0.87% of Marzetti at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MZTI. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Marzetti during the fourth quarter worth about $33,000. Lodestone Wealth Management LLC bought a new stake in Marzetti in the 4th quarter worth approximately $37,000. Farther Finance Advisors LLC bought a new stake in Marzetti in the 4th quarter worth approximately $52,000. Creative Financial Designs Inc. ADV bought a new stake in Marzetti in the 4th quarter worth approximately $52,000. Finally, Blue Trust Inc. bought a new stake in Marzetti in the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Marzetti Stock Performance

Shares of MZTI stock opened at $109.36 on Thursday. The Marzetti Company has a fifty-two week low of $105.80 and a fifty-two week high of $190.96. The stock has a 50 day moving average price of $123.46 and a two-hundred day moving average price of $148.27. The company has a market capitalization of $3.00 billion, a P/E ratio of 17.11 and a beta of 0.33.

Marzetti Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a $1.00 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.00 annualized dividend and a yield of 3.7%. Marzetti’s payout ratio is presently 62.60%.

Analysts Set New Price Targets

A number of research firms recently weighed in on MZTI. DA Davidson dropped their target price on Marzetti from $184.00 to $168.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Stephens dropped their target price on Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Finally, Weiss Ratings downgraded 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 issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $169.33.

Marzetti 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.