MGP Ingredients, Inc. $MGPI Shares Bought by Deutsche Bank AG

Key Points

• Deutsche Bank AG significantly increased its position in MGP Ingredients, lifting it by 1,564.2% in the first quarter, now owning approximately 1.01% of the company's shares valued at $6.29 million.
• A number of research analysts have issued ratings on MGP Ingredients, with a consensus rating of "Moderate Buy" and a revised average price target of $50.33.
• MGP Ingredients announced a quarterly dividend of $0.12 per share, with a dividend yield of 1.7%, despite a negative dividend payout ratio.

Deutsche Bank AG raised its position in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 1,564.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 214,060 shares of the company's stock after acquiring an additional 201,197 shares during the quarter. Deutsche Bank AG owned approximately 1.01% of MGP Ingredients worth $6,289,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MGPI. Vanguard Group Inc. raised its holdings in MGP Ingredients by 1.7% during the first 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in MGP Ingredients by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 914,854 shares of the company's stock worth $36,017,000 after purchasing an additional 57,714 shares in the last quarter. Ariel Investments LLC raised its holdings in MGP Ingredients by 17.6% during the fourth quarter. Ariel Investments LLC now owns 598,903 shares of the company's stock worth $23,579,000 after purchasing an additional 89,461 shares in the last quarter. Marshall Wace LLP raised its holdings in MGP Ingredients by 90.0% during the fourth quarter. Marshall Wace LLP now owns 340,453 shares of the company's stock worth $13,404,000 after purchasing an additional 161,295 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in MGP Ingredients during the fourth quarter worth approximately $12,932,000. Hedge funds and other institutional investors own 77.11% of the company's stock.

MGP Ingredients Stock Performance

Shares of MGP Ingredients stock traded down $0.18 during trading on Thursday, reaching $28.97. The company's stock had a trading volume of 121,189 shares, compared to its average volume of 210,247. The company has a 50-day moving average price of $30.04 and a two-hundred day moving average price of $30.41. The firm has a market cap of $616.77 million, a PE ratio of -93.45 and a beta of 0.33. MGP Ingredients, Inc. has a fifty-two week low of $25.12 and a fifty-two week high of $92.52. 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 - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.33. The business 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 company's quarterly revenue was down 23.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.71 EPS. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. On average, 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 will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 15th. MGP Ingredients's payout ratio is currently -154.84%.

Analyst Ratings Changes

MGPI has been the topic of a number of research analyst reports. Truist Financial cut their price objective on shares of MGP Ingredients from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Wall Street Zen cut shares of MGP Ingredients from a "hold" rating to a "sell" rating in a report 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, the company has a consensus rating of "Moderate Buy" and a consensus 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.