The Marzetti Company $MZTI Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp reduced its stake in The Marzetti Company (NASDAQ:MZTI) by 11.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 232,596 shares of the company’s stock after selling 31,090 shares during the quarter. Boston Trust Walden Corp owned approximately 0.85% of Marzetti worth $32,175,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wesbanco Bank Inc. purchased a new stake in Marzetti in the 4th quarter valued at about $26,736,000. Principal Financial Group Inc. purchased a new position in Marzetti during the fourth quarter worth about $40,196,000. F m Investments LLC acquired a new stake in shares of Marzetti during the fourth quarter valued at about $2,417,000. Retirement Systems of Alabama purchased a new stake in shares of Marzetti in the 4th quarter valued at approximately $4,014,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Marzetti in the 4th quarter valued at approximately $2,226,000. 66.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Marzetti Stock Performance

Shares of MZTI opened at $115.79 on Friday. The stock has a market capitalization of $3.17 billion, a P/E ratio of 18.12 and a beta of 0.32. The Marzetti Company has a 1 year low of $104.28 and a 1 year high of $190.96. The company’s fifty day moving average is $113.96 and its two-hundred day moving average is $141.99.

Marzetti Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $4.00 annualized dividend and a yield of 3.5%. Marzetti’s dividend payout ratio (DPR) is presently 62.60%.

Insiders Place Their Bets

In other news, insider Luis Viso sold 1,221 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $109.31, for a total value of $133,467.51. Following the completion of the transaction, the insider directly owned 1,924 shares of the company’s stock, valued at $210,312.44. The trade was a 38.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 29.10% of the company’s stock.

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.