Hsbc Holdings PLC Buys New Position in The Marzetti Company $MZTI

Hsbc Holdings PLC purchased a new position in shares of The Marzetti Company (NASDAQ:MZTI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,201 shares of the company’s stock, valued at approximately $1,839,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CIBC Private Wealth Group LLC acquired a new stake in Marzetti in the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust acquired a new position in shares of Marzetti during the fourth quarter worth $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Marzetti in the fourth quarter valued at $33,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Marzetti in the fourth quarter valued at $33,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Marzetti during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MZTI. Stephens cut their price objective on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating on the stock in a report 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 dropped their target price on Marzetti from $184.00 to $168.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Marzetti presently has a consensus rating of “Hold” and a consensus price target of $169.33.

Marzetti Stock Performance

Shares of Marzetti stock opened at $115.52 on Tuesday. The firm’s 50-day simple moving average is $115.25 and its 200-day simple moving average is $143.22. The Marzetti Company has a 1 year low of $104.28 and a 1 year high of $190.96. The firm has a market cap of $3.17 billion, a PE ratio of 18.08 and a beta of 0.33.

Marzetti Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, June 5th. This represents a $4.00 annualized dividend and a yield of 3.5%. Marzetti’s dividend payout ratio (DPR) is 62.60%.

Insider Activity

In other news, insider Luis Viso sold 1,221 shares of Marzetti stock in a transaction dated 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 transaction, the insider directly owned 1,924 shares of the company’s stock, valued at approximately $210,312.44. The trade was a 38.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 29.10% of the company’s stock.

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.