5,444 Shares in The Marzetti Company $MZTI Purchased by Lido Advisors LLC

Lido Advisors LLC purchased a new position in shares of The Marzetti Company (NASDAQ:MZTI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,444 shares of the company’s stock, valued at approximately $940,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Marzetti during the fourth quarter worth about $33,000. Lodestone Wealth Management LLC purchased a new stake in Marzetti in the 4th quarter valued at approximately $37,000. Farther Finance Advisors LLC purchased a new stake in Marzetti in the 4th quarter valued at approximately $52,000. Creative Financial Designs Inc. ADV purchased a new stake in Marzetti in the 4th quarter valued at approximately $52,000. Finally, Blue Trust Inc. purchased a new stake in Marzetti in the 4th quarter valued at approximately $57,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Analysts Set New Price Targets

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

Marzetti Trading Up 1.0%

Shares of MZTI opened at $110.01 on Wednesday. The Marzetti Company has a twelve month low of $105.80 and a twelve month high of $190.96. The stock’s 50 day moving average is $124.07 and its two-hundred day moving average is $148.71. The firm has a market capitalization of $3.02 billion, a PE ratio of 17.22 and a beta of 0.33.

Marzetti Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.00 annualized dividend and a dividend yield of 3.6%. Marzetti’s payout ratio is 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.