Corient Private Wealth LLC Invests $5.42 Million in The Marzetti Company $MZTI

Corient Private Wealth LLC purchased a new stake in shares of The Marzetti Company (NASDAQ:MZTI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 32,982 shares of the company’s stock, valued at approximately $5,423,000. Corient Private Wealth LLC owned 0.12% of Marzetti at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MZTI. CIBC Private Wealth Group LLC bought a new position in Marzetti during the 4th quarter worth about $32,000. Parkside Financial Bank & Trust bought a new stake in shares of Marzetti in the 4th quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Marzetti in the 4th quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Marzetti in the 4th quarter worth approximately $33,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Marzetti in the 4th quarter worth approximately $37,000. 66.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Marzetti news, insider Luis Viso sold 1,221 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $109.31, for a total value of $133,467.51. Following the completion of the sale, the insider directly owned 1,924 shares in the company, valued at $210,312.44. This trade represents a 38.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 29.10% of the stock is currently owned by company insiders.

Marzetti Stock Performance

MZTI stock opened at $112.41 on Friday. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 17.59 and a beta of 0.33. The firm has a 50-day simple moving average of $116.08 and a two-hundred day simple moving average of $143.82. The Marzetti Company has a one year low of $104.28 and a one year high of $190.96.

Marzetti Dividend Announcement

The company 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 dividend of $1.00 per share. 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 3.6%. Marzetti’s dividend payout ratio is presently 62.60%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. DA Davidson dropped their price objective on shares of Marzetti from $184.00 to $168.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Weiss Ratings downgraded shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Finally, Stephens lowered their target price on Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Marzetti has a consensus rating of “Hold” and an average target price of $169.33.

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.