Swiss National Bank Purchases 1,800 Shares of MGP Ingredients, Inc. $MGPI

Swiss National Bank boosted its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 6.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,800 shares of the company’s stock after buying an additional 1,800 shares during the quarter. Swiss National Bank owned approximately 0.14% of MGP Ingredients worth $876,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MGPI. Penserra Capital Management LLC increased its position in MGP Ingredients by 333.3% during the 1st quarter. Penserra Capital Management LLC now owns 897 shares of the company’s stock valued at $26,000 after purchasing an additional 690 shares during the period. Janney Montgomery Scott LLC purchased a new position in MGP Ingredients during the 1st quarter valued at $779,000. Deutsche Bank AG increased its position in MGP Ingredients by 1,564.2% during the 1st quarter. Deutsche Bank AG now owns 214,060 shares of the company’s stock valued at $6,289,000 after purchasing an additional 201,197 shares during the period. Rhumbline Advisers increased its position in MGP Ingredients by 24.9% during the 1st quarter. Rhumbline Advisers now owns 51,780 shares of the company’s stock valued at $1,521,000 after purchasing an additional 10,316 shares during the period. Finally, Northern Trust Corp increased its position in MGP Ingredients by 12.9% during the 4th quarter. Northern Trust Corp now owns 159,121 shares of the company’s stock valued at $6,265,000 after purchasing an additional 18,139 shares during the period. 77.11% of the stock is currently owned by institutional investors.

MGP Ingredients Stock Down 2.7%

Shares of MGP Ingredients stock opened at $28.65 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.91 and a quick ratio of 0.79. The company has a 50-day moving average of $30.03 and a 200 day moving average of $30.30. The firm has a market cap of $609.96 million, a price-to-earnings ratio of -92.42 and a beta of 0.33. MGP Ingredients, Inc. has a 1 year low of $25.12 and a 1 year high of $91.61.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.33. The company had revenue of $145.49 million during the quarter, compared to analyst estimates of $138.70 million. MGP Ingredients had a negative net margin of 1.08% and a positive return on equity of 10.66%. MGP Ingredients’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same period last year, the business earned $1.71 EPS. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. As a group, sell-side analysts anticipate that MGP Ingredients, Inc. will post 5.56 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, August 15th. MGP Ingredients’s dividend payout ratio (DPR) is presently -154.84%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Saturday, May 10th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.33.

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.