MGP Ingredients, Inc. (NASDAQ:MGPI) Stock Position Raised 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 lifted its position in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 1,564.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Penserra Capital Management LLC lifted its position in shares of 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 in the last quarter. GAMMA Investing LLC lifted its position in MGP Ingredients by 114.8% in the 1st quarter. GAMMA Investing LLC now owns 1,497 shares of the company's stock worth $44,000 after buying an additional 800 shares in the last quarter. CWM LLC lifted its position in MGP Ingredients by 127.4% in the 1st quarter. CWM LLC now owns 2,051 shares of the company's stock worth $60,000 after buying an additional 1,149 shares in the last quarter. Signaturefd LLC lifted its position in MGP Ingredients by 1,055.2% in the 1st quarter. Signaturefd LLC now owns 2,218 shares of the company's stock worth $65,000 after buying an additional 2,026 shares in the last quarter. Finally, Quarry LP purchased a new stake in MGP Ingredients in the 4th quarter worth approximately $75,000. Hedge funds and other institutional investors own 77.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of MGP Ingredients from a "hold" rating to a "sell" rating in a research report on Saturday, May 10th. Truist Financial cut their target price on shares of MGP Ingredients from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $50.33.

MGP Ingredients Stock Up 1.3%

MGP Ingredients stock opened at $28.78 on Friday. The company has a market capitalization of $612.73 million, a P/E ratio of -92.84 and a beta of 0.33. The firm's fifty day simple moving average is $30.03 and its 200-day simple moving average is $30.55. 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, Inc. has a 1-year low of $25.12 and a 1-year high of $92.52.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.97 earnings per share 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 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%. MGP Ingredients's revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.71 EPS. Sell-side analysts forecast that MGP Ingredients, Inc. will post 5.56 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, August 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.7%. MGP Ingredients's dividend payout ratio (DPR) is currently -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.

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