Marzetti (NASDAQ:MZTI) Hits New 12-Month Low – Time to Sell?

Shares of The Marzetti Company (NASDAQ:MZTI) reached a new 52-week low during trading on Wednesday . The stock traded as low as $110.64 and last traded at $111.2950, with a volume of 40660 shares traded. The stock had previously closed at $113.89.

Analysts Set New Price Targets

Several analysts have recently commented on MZTI shares. Stephens reduced their target price on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. DA Davidson reduced their target price on shares of Marzetti from $184.00 to $168.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. Finally, Wall Street Zen cut shares of Marzetti from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $169.33.

Marzetti Price Performance

The company’s 50 day moving average is $134.59 and its 200 day moving average is $154.81. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 17.55 and a beta of 0.38.

Institutional Trading of Marzetti

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC acquired a new stake in shares of Marzetti in the fourth quarter valued at about $32,000. Parkside Financial Bank & Trust acquired a new stake in shares of Marzetti in the fourth quarter valued at about $32,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Marzetti in the fourth quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Marzetti in the fourth quarter valued at about $33,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Marzetti in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 66.44% 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.