Vanguard Group Inc. Raises Position in MGP Ingredients, Inc. $MGPI

Key Points

• Vanguard Group Inc. has increased its stake in MGP Ingredients, holding approximately 5.38% of the company valued at $33.65 million, after acquiring additional shares in the first quarter.
• MGP Ingredients recently reported earnings of $0.97 per share, exceeding analyst expectations and generating revenues of $145.49 million for the quarter, despite a 23.7% decline compared to the previous year.
• The company declared a quarterly dividend of $0.12 per share with a dividend yield of 1.6%, although its payout ratio stands at a negative -154.84%.

Vanguard Group Inc. lifted its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,145,485 shares of the company's stock after buying an additional 19,316 shares during the period. Vanguard Group Inc. owned about 5.38% of MGP Ingredients worth $33,654,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. New Age Alpha Advisors LLC grew its stake in shares of MGP Ingredients by 5.3% in the first 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 acquired a new stake in MGP Ingredients during the 1st quarter worth about $332,000. PNC Financial Services Group Inc. grew its holdings in MGP Ingredients by 56.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,000 shares of the company's stock worth $88,000 after acquiring an additional 1,087 shares during the period. Federated Hermes Inc. grew its holdings in MGP Ingredients by 576.4% during the 1st quarter. Federated Hermes Inc. now owns 262,329 shares of the company's stock worth $7,707,000 after acquiring an additional 223,548 shares during the period. Finally, Signaturefd LLC grew its holdings 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 acquiring an additional 2,026 shares during the period. Institutional investors own 77.11% of the company's stock.

MGP Ingredients Stock Up 0.7%

NASDAQ MGPI traded up $0.22 during trading hours on Monday, hitting $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 52 week low of $25.12 and a 52 week high of $91.06. The company has a market capitalization of $629.55 million, a PE ratio of -95.39 and a beta of 0.35. The company has a current ratio of 2.91, a quick ratio of 0.79 and a debt-to-equity ratio of 0.35. The company's 50-day simple moving average is $29.99 and its two-hundred day simple moving average is $30.22.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.64 by $0.33. The firm had revenue of $145.49 million during the quarter, compared to analyst estimates 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 revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter last year, the business posted $1.71 EPS. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. Research analysts anticipate that MGP Ingredients, Inc. will post 5.56 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 15th. MGP Ingredients's payout ratio is currently -154.84%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered 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 issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.