Dearborn Partners LLC Invests $749,000 in The Marzetti Company $MZTI

Dearborn Partners LLC acquired a new position in The Marzetti Company (NASDAQ:MZTI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,411 shares of the company’s stock, valued at approximately $749,000.

Other institutional investors also recently made changes to their positions in the company. CIBC Private Wealth Group LLC purchased a new position in Marzetti in the 4th quarter worth $32,000. Parkside Financial Bank & Trust purchased a new stake in Marzetti during the fourth quarter valued at about $32,000. Caitong International Asset Management Co. Ltd purchased a new stake in Marzetti during the fourth quarter valued at about $33,000. Rockefeller Capital Management L.P. purchased a new stake in Marzetti during the fourth quarter valued at about $35,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Marzetti during the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Marzetti Stock Up 3.7%

Shares of NASDAQ MZTI opened at $115.76 on Tuesday. The firm’s fifty day moving average is $111.52 and its 200 day moving average is $127.62. The Marzetti Company has a 52 week low of $104.28 and a 52 week high of $188.72. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 18.12 and a beta of 0.32.

Marzetti Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 8th. Marzetti’s dividend payout ratio (DPR) is 62.60%.

Analyst Ratings Changes

Several research analysts have recently commented on MZTI shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marzetti in a report on Monday, August 17th. Stephens dropped their target price on Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Finally, DA Davidson upgraded Marzetti to a “hold” rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $154.00.

Insider Activity

In other Marzetti news, insider Luis Viso sold 1,221 shares of the business’s 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 transaction, the insider owned 1,924 shares in the company, valued at approximately $210,312.44. The trade was a 38.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 29.10% 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.