Meeder Asset Management Inc. Invests $3.67 Million in The Marzetti Company $MZTI

Meeder Asset Management Inc. bought a new position in shares of The Marzetti Company (NASDAQ:MZTI) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 32,188 shares of the company’s stock, valued at approximately $3,675,000.

A number of other large investors have also made changes to their positions in MZTI. BlackRock Inc. acquired a new stake in shares of Marzetti during the 2nd quarter valued at approximately $313,083,000. Deutsche Bank AG purchased a new stake in shares of Marzetti in the second quarter valued at $3,443,000. Global Retirement Partners LLC purchased a new position in Marzetti in the 2nd quarter valued at about $56,000. GSA Capital Partners LLP purchased a new position in shares of Marzetti during the second quarter valued at approximately $513,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Marzetti by 148.5% during the second quarter. GAMMA Investing LLC now owns 1,230 shares of the company’s stock worth $140,000 after purchasing an additional 735 shares during the last quarter. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Insider Activity at Marzetti

In other news, insider Luis Viso sold 1,221 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $109.31, for a total transaction of $133,467.51. Following the completion of the transaction, the insider directly owned 1,924 shares of the company’s stock, valued at approximately $210,312.44. This represents a 38.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 29.10% of the company’s stock.

Marzetti Price Performance

MZTI opened at $115.58 on Wednesday. The Marzetti Company has a 12-month low of $104.28 and a 12-month high of $190.96. The stock has a market capitalization of $3.17 billion, a PE ratio of 18.09 and a beta of 0.32. The firm’s fifty day moving average price is $111.16 and its 200 day moving average price is $129.14.

Wall Street Analysts Forecast Growth

MZTI has been the topic of several research analyst reports. DA Davidson raised shares of Marzetti to a “hold” rating in a research report on Monday, July 6th. Stephens lowered their target price on Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marzetti in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $169.33.

Marzetti 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.