Hsbc Holdings PLC Buys Shares of 11,201 The Marzetti Company $MZTI

Hsbc Holdings PLC purchased a new position in The Marzetti Company (NASDAQ:MZTI) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 11,201 shares of the company’s stock, valued at approximately $1,839,000.

A number of other large investors also recently modified their holdings of the business. CIBC Private Wealth Group LLC bought a new position in Marzetti during the fourth quarter worth $32,000. Parkside Financial Bank & Trust bought a new stake in Marzetti in the 4th quarter valued at $32,000. Caitong International Asset Management Co. Ltd acquired a new stake in Marzetti in the 4th quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Marzetti during the 4th quarter worth about $33,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Marzetti during the 4th quarter worth about $35,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Marzetti Stock Performance

Shares of MZTI stock traded up $2.71 during mid-day trading on Friday, reaching $114.80. The company’s stock had a trading volume of 183,301 shares, compared to its average volume of 336,367. The firm’s 50-day moving average is $112.54 and its two-hundred day moving average is $139.96. The company has a market cap of $3.15 billion, a P/E ratio of 17.97 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.

Marzetti Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MZTI shares. Weiss Ratings cut shares of Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. DA Davidson upgraded Marzetti to a “hold” rating in a research note on Monday, July 6th. Finally, Stephens cut their price target 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $169.33.

Insider Transactions at Marzetti

In other Marzetti news, insider Luis Viso sold 1,221 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $109.31, for a total transaction of $133,467.51. Following the completion of the transaction, the insider 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 document filed with the Securities & Exchange Commission, which is available at this link. 29.10% of the stock is owned by company insiders.

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.