MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC raised its stake in MGP Ingredients, Inc. (NASDAQ:MGPI) by 4.1% during the first quarter, Holdings Channel reports. The firm owned 99,887 shares of the company’s stock after buying an additional 3,942 shares during the period. Geode Capital Management LLC’s holdings in MGP Ingredients were worth $5,416,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Neuberger Berman Group LLC raised its stake in shares of MGP Ingredients by 106.4% in the first quarter. Neuberger Berman Group LLC now owns 1,109,583 shares of the company’s stock worth $60,173,000 after buying an additional 571,983 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in shares of MGP Ingredients by 60.0% in the first quarter. TimesSquare Capital Management LLC now owns 973,400 shares of the company’s stock worth $52,787,000 after buying an additional 365,200 shares during the last quarter. Stephens Investment Management Group LLC raised its stake in shares of MGP Ingredients by 7.7% in the first quarter. Stephens Investment Management Group LLC now owns 765,067 shares of the company’s stock worth $41,490,000 after buying an additional 54,778 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of MGP Ingredients by 3.5% in the first quarter. Conestoga Capital Advisors LLC now owns 688,874 shares of the company’s stock worth $37,358,000 after buying an additional 23,207 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of MGP Ingredients by 11.4% in the first quarter. Vanguard Group Inc. now owns 507,767 shares of the company’s stock worth $27,536,000 after buying an additional 51,902 shares during the last quarter. 97.66% of the stock is owned by hedge funds and other institutional investors.
Shares of MGP Ingredients, Inc. (NASDAQ MGPI) traded up 1.15% during mid-day trading on Friday, reaching $59.17. The company had a trading volume of 91,287 shares. MGP Ingredients, Inc. has a 12-month low of $31.93 and a 12-month high of $60.62. The firm has a 50-day moving average of $55.06 and a 200-day moving average of $51.30. The company has a market capitalization of $989.03 million, a P/E ratio of 30.90 and a beta of 1.01.
MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Thursday, August 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.03. MGP Ingredients had a return on equity of 21.30% and a net margin of 9.33%. The company had revenue of $85.80 million during the quarter, compared to analysts’ expectations of $84.39 million. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities analysts anticipate that MGP Ingredients, Inc. will post $1.70 earnings per share for the current fiscal year.
The business also recently announced a special dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 18th will be issued a $0.85 dividend. This represents a yield of 0.27%. The ex-dividend date is Wednesday, August 16th. MGP Ingredients’s dividend payout ratio is currently 8.42%.
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MGPI has been the subject of a number of research analyst reports. BidaskClub raised MGP Ingredients from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Craig Hallum set a $70.00 target price on MGP Ingredients and gave the company a “buy” rating in a research report on Saturday, May 6th. Sidoti lowered MGP Ingredients from a “buy” rating to a “neutral” rating in a research report on Friday, May 5th. Finally, Zacks Investment Research lowered MGP Ingredients from a “buy” rating to a “hold” rating in a research report on Friday, June 30th.
In related news, Director Karen Seaberg sold 6,288 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $51.42, for a total value of $323,328.96. Following the sale, the director now owns 10,591 shares in the company, valued at $544,589.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.50% of the company’s stock.
About MGP Ingredients
MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.
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