Vanguard Group Inc. Has $33.65 Million Stock Holdings in MGP Ingredients, Inc. $MGPI

Vanguard Group Inc. raised its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI) by 1.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,145,485 shares of the company’s stock after purchasing an additional 19,316 shares during the period. Vanguard Group Inc. owned approximately 5.38% of MGP Ingredients worth $33,654,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Penserra Capital Management LLC increased its position in MGP Ingredients by 333.3% in the 1st quarter. Penserra Capital Management LLC now owns 897 shares of the company’s stock valued at $26,000 after acquiring an additional 690 shares during the period. GAMMA Investing LLC lifted its position in shares of MGP Ingredients by 114.8% during the first quarter. GAMMA Investing LLC now owns 1,497 shares of the company’s stock valued at $44,000 after purchasing an additional 800 shares in the last quarter. CWM LLC lifted its position in shares of MGP Ingredients by 127.4% during the first quarter. CWM LLC now owns 2,051 shares of the company’s stock valued at $60,000 after purchasing an additional 1,149 shares in the last quarter. Signaturefd LLC boosted its stake in MGP Ingredients by 1,055.2% in the first quarter. Signaturefd LLC now owns 2,218 shares of the company’s stock valued at $65,000 after acquiring an additional 2,026 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of MGP Ingredients in the fourth quarter valued at approximately $75,000. 77.11% of the stock is currently owned by institutional investors and hedge funds.

MGP Ingredients Stock Performance

MGPI opened at $29.77 on Thursday. MGP Ingredients, Inc. has a 12-month low of $25.12 and a 12-month high of $91.06. The company has a market cap of $633.80 million, a price-to-earnings ratio of -96.03 and a beta of 0.33. The company’s 50 day moving average is $30.02 and its 200 day moving average is $30.30. The company has a current ratio of 2.91, a quick ratio of 0.79 and a debt-to-equity ratio of 0.35.

MGP Ingredients (NASDAQ:MGPI) last released its earnings results on Thursday, July 31st. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.33. The company had revenue of $145.49 million for the quarter, compared to analysts’ expectations of $138.70 million. MGP Ingredients had a negative net margin of 1.08% and a positive return on equity of 10.66%. The firm’s revenue was down 23.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.71 EPS. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. On average, equities research analysts predict that MGP Ingredients, Inc. will post 5.56 EPS for the current year.

MGP Ingredients Announces Dividend

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 given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 15th. MGP Ingredients’s payout ratio is currently -154.84%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Saturday, May 10th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, MGP Ingredients presently has an average rating of “Moderate Buy” and an average target price of $50.33.

MGP Ingredients 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.