Goldman Sachs Group Inc. Grows Stock Holdings in MGP Ingredients, Inc. $MGPI

Key Points

• Goldman Sachs Group Inc. has increased its stake in MGP Ingredients by 10.0%, owning approximately $4.67 million worth of shares after acquiring additional stock in the first quarter.
• MGP Ingredients recently reported earnings of $0.97 per share, surpassing analyst expectations, despite experiencing a 23.7% decline in quarterly revenue year-over-year.
• The company has declared a quarterly dividend of $0.12 per share, with an annualized yield of 1.7%, although its payout ratio is currently negative.

Goldman Sachs Group Inc. increased its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 10.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,879 shares of the company's stock after acquiring an additional 14,501 shares during the quarter. Goldman Sachs Group Inc. owned about 0.75% of MGP Ingredients worth $4,668,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brooklyn Investment Group grew its position in MGP Ingredients by 2,365.7% during the 1st quarter. Brooklyn Investment Group now owns 863 shares of the company's stock worth $25,000 after purchasing an additional 828 shares during the last quarter. Penserra Capital Management LLC grew 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 worth $26,000 after purchasing an additional 690 shares during the last quarter. GAMMA Investing LLC grew its position in MGP Ingredients by 114.8% during the 1st quarter. GAMMA Investing LLC now owns 1,497 shares of the company's stock worth $44,000 after purchasing an additional 800 shares during the last quarter. CWM LLC grew its position in MGP Ingredients by 127.4% during the 1st quarter. CWM LLC now owns 2,051 shares of the company's stock worth $60,000 after purchasing an additional 1,149 shares during the last quarter. Finally, Signaturefd LLC grew its position in MGP Ingredients by 1,055.2% during the 1st quarter. Signaturefd LLC now owns 2,218 shares of the company's stock worth $65,000 after purchasing an additional 2,026 shares during the last quarter. 77.11% of the stock is currently owned by institutional investors and hedge funds.

MGP Ingredients Stock Performance

MGP Ingredients stock traded down $0.55 during midday trading on Friday, hitting $27.06. 337,691 shares of the company's stock were exchanged, compared to its average volume of 184,681. The stock has a market cap of $576.11 million, a price-to-earnings ratio of -87.29 and a beta of 0.35. The firm's 50 day simple moving average is $29.07 and its 200 day simple moving average is $29.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.79 and a current ratio of 2.91. MGP Ingredients, Inc. has a 12-month low of $25.12 and a 12-month high of $85.61.

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

MGP Ingredients Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.48 annualized dividend and a dividend yield of 1.8%. MGP Ingredients's payout ratio is presently -154.84%.

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.