Marzetti (NASDAQ:MZTI) Stock Rating Upgraded by DA Davidson

Marzetti (NASDAQ:MZTI) was upgraded by equities researchers at DA Davidson to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Weiss Ratings downgraded Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Stephens dropped their price target on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. One investment 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 has an average rating of “Hold” and an average target price of $169.33.

Marzetti Price Performance

MZTI stock traded up $2.24 during mid-day trading on Monday, reaching $114.57. 14,868 shares of the company’s stock were exchanged, compared to its average volume of 299,170. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 17.99 and a beta of 0.32. The stock’s 50 day moving average is $113.70 and its 200 day moving average is $141.37. Marzetti has a 12-month low of $104.28 and a 12-month high of $190.96.

Insider Activity

In other news, insider Luis Viso sold 1,221 shares of Marzetti stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $109.31, for a total value of $133,467.51. Following the sale, the insider directly owned 1,924 shares of the company’s stock, valued at $210,312.44. The trade was a 38.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 29.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marzetti

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC acquired a new position in Marzetti during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust purchased a new position in Marzetti during the fourth quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Marzetti in the 4th quarter worth $33,000. Caitong International Asset Management Co. Ltd acquired a new position in Marzetti in the 4th quarter valued at about $33,000. Finally, Rockefeller Capital Management L.P. acquired a new position in Marzetti in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

About Marzetti

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.