Victory Capital Management Inc. Increases Stock Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

Victory Capital Management Inc. boosted its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 220,308 shares of the company’s stock after buying an additional 2,905 shares during the quarter. Victory Capital Management Inc.’s holdings in MGP Ingredients were worth $21,705,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Global Retirement Partners LLC boosted its position in shares of MGP Ingredients by 464.8% during the fourth quarter. Global Retirement Partners LLC now owns 401 shares of the company’s stock valued at $37,000 after buying an additional 330 shares during the period. Quantbot Technologies LP increased its stake in MGP Ingredients by 99.9% in the third quarter. Quantbot Technologies LP now owns 1,641 shares of the company’s stock worth $173,000 after purchasing an additional 820 shares during the period. Cerity Partners LLC lifted its position in shares of MGP Ingredients by 9.3% during the fourth quarter. Cerity Partners LLC now owns 2,186 shares of the company’s stock worth $215,000 after purchasing an additional 186 shares during the last quarter. Peterson Wealth Services purchased a new stake in shares of MGP Ingredients during the fourth quarter valued at $221,000. Finally, Insigneo Advisory Services LLC bought a new position in shares of MGP Ingredients in the third quarter worth about $261,000. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Stock Performance

Shares of MGP Ingredients stock opened at $82.22 on Thursday. The company has a current ratio of 6.32, a quick ratio of 1.97 and a debt-to-equity ratio of 0.34. The stock’s fifty day moving average price is $81.92 and its 200-day moving average price is $88.30. The firm has a market cap of $1.81 billion, a P/E ratio of 18.99, a P/E/G ratio of 1.19 and a beta of 0.75. MGP Ingredients, Inc. has a 12 month low of $75.78 and a 12 month high of $124.96.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $170.56 million during the quarter, compared to analysts’ expectations of $170.31 million. MGP Ingredients had a net margin of 11.91% and a return on equity of 14.78%. The company’s revenue was down 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.39 EPS. On average, equities research analysts expect that MGP Ingredients, Inc. will post 6.18 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.48 annualized dividend and a yield of 0.58%. MGP Ingredients’s dividend payout ratio (DPR) is presently 11.09%.

Analysts Set New Price Targets

MGPI has been the subject of a number of research analyst reports. StockNews.com lowered shares of MGP Ingredients from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and set a $120.00 price target on shares of MGP Ingredients in a research note on Monday, April 29th. Finally, Roth Mkm lowered their price target on MGP Ingredients from $95.00 to $92.00 and set a “buy” rating for the company in a report on Friday, May 3rd.

Insider Activity

In related news, VP Erika Lapish acquired 500 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the purchase, the vice president now directly owns 550 shares of the company’s stock, valued at approximately $42,823. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 36.20% of the company’s stock.

MGP Ingredients Company Profile

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.