Canada Pension Plan Investment Board Purchases 62,900 Shares of MGP Ingredients, Inc. $MGPI

Key Points

• The Canada Pension Plan Investment Board significantly increased its stake in MGP Ingredients, bringing its ownership to 64,600 shares after acquiring 62,900 new shares, representing a 3,700.0% increase in the 1st quarter.
• MGP Ingredients reported quarterly earnings of $0.97 per share, exceeding analyst estimates by $0.33, but experienced a 23.7% decline in revenue compared to the previous year.
• The company recently declared a quarterly dividend of $0.12 per share, with an annualized dividend yield of 1.7%, despite a negative dividend payout ratio of -154.84%.

Canada Pension Plan Investment Board boosted its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 3,700.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,600 shares of the company's stock after purchasing an additional 62,900 shares during the period. Canada Pension Plan Investment Board owned 0.30% of MGP Ingredients worth $1,898,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PEAK6 LLC acquired a new stake in shares of MGP Ingredients during the first quarter worth $483,000. AlphaQuest LLC boosted its position in shares of MGP Ingredients by 68.1% during the first quarter. AlphaQuest LLC now owns 6,350 shares of the company's stock worth $187,000 after buying an additional 2,572 shares during the period. Hsbc Holdings PLC acquired a new position in MGP Ingredients during the first quarter valued at approximately $248,000. Quantbot Technologies LP boosted its position in MGP Ingredients by 143.7% during the first quarter. Quantbot Technologies LP now owns 73,027 shares of the company's stock valued at $2,146,000 after purchasing an additional 43,060 shares during the last quarter. Finally, Brooklyn Investment Group boosted its position in MGP Ingredients by 2,365.7% during the first quarter. Brooklyn Investment Group now owns 863 shares of the company's stock valued at $25,000 after purchasing an additional 828 shares during the last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.

MGP Ingredients Stock Performance

MGPI traded down $0.78 during trading hours on Wednesday, reaching $27.61. The company's stock had a trading volume of 183,492 shares, compared to its average volume of 172,291. MGP Ingredients, Inc. has a 52 week low of $25.12 and a 52 week high of $86.60. The company's 50-day moving average is $29.73 and its 200-day moving average is $30.04. 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 has a market cap of $587.82 million, a PE ratio of -89.06 and a beta of 0.35.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.33. MGP Ingredients had a positive return on equity of 10.66% and a negative net margin of 1.08%.The company had revenue of $145.49 million for the quarter, compared to analyst estimates of $138.70 million. During the same quarter last year, the company earned $1.71 earnings per share. The firm'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. On average, equities analysts forecast that MGP Ingredients, Inc. will post 5.56 EPS for the current year.

MGP Ingredients Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.48 annualized dividend and a dividend yield of 1.7%. MGP Ingredients's dividend payout ratio (DPR) is -154.84%.

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.