9,939 Shares in The Marzetti Company $MZTI Purchased by Entropy Technologies LP

Entropy Technologies LP acquired a new position in The Marzetti Company (NASDAQ:MZTI) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 9,939 shares of the company’s stock, valued at approximately $1,634,000.

Other hedge funds have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC purchased a new stake in Marzetti in the 4th quarter worth about $32,000. Parkside Financial Bank & Trust purchased a new stake in Marzetti in the 4th quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Marzetti in the 4th quarter worth about $33,000. Lodestone Wealth Management LLC purchased a new stake in Marzetti in the 4th quarter worth about $37,000. Finally, Farther Finance Advisors LLC purchased a new stake in Marzetti in the 4th quarter worth about $52,000. 66.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MZTI shares. Stephens reduced their price objective on Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings downgraded Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Finally, DA Davidson cut their price target on Marzetti from $184.00 to $168.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. One equities research 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, Marzetti currently has an average rating of “Hold” and an average price target of $169.33.

Insider Activity at Marzetti

In other news, insider Luis Viso sold 1,221 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $109.31, for a total transaction of $133,467.51. Following the transaction, the insider owned 1,924 shares of the company’s stock, valued at approximately $210,312.44. This represents a 38.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 29.10% of the company’s stock.

Marzetti Price Performance

MZTI opened at $108.69 on Tuesday. The Marzetti Company has a fifty-two week low of $105.80 and a fifty-two week high of $190.96. The business has a 50-day moving average of $121.69 and a 200-day moving average of $147.01. The company has a market capitalization of $2.98 billion, a PE ratio of 17.01 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. Stockholders of record on Friday, June 5th will be issued 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 dividend yield of 3.7%. Marzetti’s dividend payout ratio is currently 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.