Dimensional Fund Advisors LP Acquires 7,671 Shares of The Marzetti Company $MZTI

Dimensional Fund Advisors LP boosted its holdings in The Marzetti Company (NASDAQ:MZTI) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 555,702 shares of the company’s stock after buying an additional 7,671 shares during the period. Dimensional Fund Advisors LP’s holdings in Marzetti were worth $76,873,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MZTI. Oregon Public Employees Retirement Fund grew its stake in shares of Marzetti by 2.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 4,162 shares of the company’s stock worth $576,000 after purchasing an additional 100 shares during the period. State of Michigan Retirement System grew its holdings in shares of Marzetti by 2.1% in the 1st quarter. State of Michigan Retirement System now owns 4,932 shares of the company’s stock valued at $682,000 after buying an additional 100 shares during the period. CIBC Private Wealth Group LLC bought a new stake in shares of Marzetti in the fourth quarter worth about $32,000. Parkside Financial Bank & Trust bought a new stake in Marzetti during the 4th quarter worth approximately $32,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Marzetti during the fourth quarter worth $33,000. 66.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MZTI. DA Davidson upgraded Marzetti to a “hold” rating in a report on Monday, July 6th. Stephens dropped their target price 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. Finally, Weiss Ratings cut Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $169.33.

Marzetti Price Performance

NASDAQ:MZTI opened at $106.87 on Friday. The Marzetti Company has a one year low of $104.28 and a one year high of $190.96. The company has a market cap of $2.93 billion, a P/E ratio of 16.72 and a beta of 0.32. The firm’s fifty day moving average price is $110.43 and its two-hundred day moving average price is $134.00.

Marzetti Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $4.00 annualized dividend and a dividend yield of 3.7%. Marzetti’s payout ratio is presently 62.60%.

Insider Buying and Selling

In other Marzetti news, insider Luis Viso sold 1,221 shares of the 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 directly owned 1,924 shares of the company’s stock, valued at $210,312.44. This represents a 38.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.