Marzetti (NASDAQ:MZTI) Issues Earnings Results

Marzetti (NASDAQ:MZTI) issued its quarterly earnings results on Tuesday. The company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.23), Zacks reports. The firm had revenue of $481.52 million for the quarter. Marzetti had a return on equity of 16.46% and a net margin of 9.06%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.74 earnings per share.

Marzetti Price Performance

MZTI traded down $0.61 during trading on Thursday, hitting $111.49. The company’s stock had a trading volume of 84,082 shares, compared to its average volume of 331,153. The business’s fifty day simple moving average is $104.87 and its 200 day simple moving average is $124.31. Marzetti has a twelve month low of $97.00 and a twelve month high of $176.26. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 17.61 and a beta of 0.34. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.18.

Marzetti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 8th. Marzetti’s dividend payout ratio (DPR) is presently 63.19%.

Insider Activity

In other news, CEO Luis Viso sold 997 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $100.81, for a total transaction of $100,507.57. Following the completion of the sale, the chief executive officer owned 1,047 shares of the company’s stock, valued at $105,548.07. The trade was a 48.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 29.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MZTI has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Marzetti in a research note on Monday, August 17th. Stephens reiterated an “equal weight” rating and issued a $135.00 target price on shares of Marzetti in a research report on Wednesday. Finally, DA Davidson dropped their target price on Marzetti from $168.00 to $130.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Marzetti has an average rating of “Reduce” and a consensus price target of $132.50.

Marzetti Company Profile

T. Marzetti Company is a food manufacturer and marketer based in Columbus, Ohio. The company develops, produces and distributes specialty food products for retail and foodservice customers, with a portfolio focused on dressings, dips, sauces, frozen breads and related prepared foods.

Its brand portfolio includes Marzetti, Simply Dressed, New York Bakery, Sister Schubert’s, Flatout, Cardini’s and Girard’s, among others. These products are sold through grocery retailers and other retail channels, while the company also supplies restaurants, institutional foodservice operators and other commercial customers.

The company traces its roots to 1896, when Teresa Marzetti opened a restaurant in Columbus, Ohio.