Charles Schwab Investment Management Inc. Purchases 36,951 Shares of MGP Ingredients, Inc. $MGPI

Key Points

• Charles Schwab Investment Management Inc. increased its stake in MGP Ingredients, Inc. by 28.1%, holding approximately 168,534 shares worth $4.95 million.
• MGP Ingredients has recently received a downgrade from Wall Street Zen from a "hold" to a "sell" rating, although it maintains an average rating of "Moderate Buy" from other analysts.
• The company declared a quarterly dividend of $0.12, resulting in an annualized dividend yield of 1.6%, despite a negative dividend payout ratio of -154.84%.

Charles Schwab Investment Management Inc. lifted its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 28.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 168,534 shares of the company's stock after purchasing an additional 36,951 shares during the period. Charles Schwab Investment Management Inc. owned 0.79% of MGP Ingredients worth $4,952,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of MGP Ingredients by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,145,485 shares of the company's stock worth $33,654,000 after purchasing an additional 19,316 shares during the last quarter. New Age Alpha Advisors LLC increased its stake in shares of MGP Ingredients by 5.3% during the 1st quarter. New Age Alpha Advisors LLC now owns 30,494 shares of the company's stock worth $896,000 after purchasing an additional 1,524 shares during the last quarter. Blair William & Co. IL purchased a new position in MGP Ingredients in the 1st quarter valued at approximately $332,000. PNC Financial Services Group Inc. grew its stake in MGP Ingredients by 56.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,000 shares of the company's stock valued at $88,000 after buying an additional 1,087 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in MGP Ingredients by 576.4% in the 1st quarter. Federated Hermes Inc. now owns 262,329 shares of the company's stock valued at $7,707,000 after buying an additional 223,548 shares in the last quarter. Hedge funds and other institutional investors own 77.11% of the company's stock.

MGP Ingredients Stock Performance

MGP Ingredients stock traded up $0.22 during mid-day trading on Monday, reaching $29.57. The company's stock had a trading volume of 357,057 shares, compared to its average volume of 196,234. MGP Ingredients, Inc. has a 12-month low of $25.12 and a 12-month high of $91.06. The company has a market capitalization of $629.55 million, a P/E ratio of -95.39 and a beta of 0.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.79 and a current ratio of 2.91. The firm's fifty day moving average price is $29.99 and its two-hundred day moving average price is $30.22.

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

MGP Ingredients Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 15th. MGP Ingredients's dividend payout ratio (DPR) is presently -154.84%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of MGP Ingredients from a "hold" rating to a "sell" rating in a research note on Saturday, May 10th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, MGP Ingredients presently has a consensus rating of "Moderate Buy" and an average target price 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.