Royal Bank of Canada grew its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI – Free Report) by 78.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,139 shares of the company’s stock after acquiring an additional 39,524 shares during the period. Royal Bank of Canada owned 0.42% of MGP Ingredients worth $1,657,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Osaic Holdings Inc. grew its position in shares of MGP Ingredients by 130.3% in the second quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock valued at $28,000 after purchasing an additional 529 shares in the last quarter. Global Retirement Partners LLC bought a new position in MGP Ingredients in the 4th quarter worth about $32,000. Quadrant Capital Group LLC boosted its stake in MGP Ingredients by 237.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,830 shares of the company’s stock worth $44,000 after purchasing an additional 1,287 shares during the period. Tower Research Capital LLC TRC grew its holdings in MGP Ingredients by 278.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock valued at $56,000 after buying an additional 1,386 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in shares of MGP Ingredients during the third quarter valued at about $96,000. 77.11% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on MGPI shares. Zacks Research raised shares of MGP Ingredients from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Wells Fargo & Company upped their target price on shares of MGP Ingredients from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. TD Cowen increased their target price on shares of MGP Ingredients from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MGP Ingredients in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.25.
Insider Activity
In other news, major shareholder Caroline Lux Kaplan sold 30,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $17.82, for a total transaction of $534,600.00. Following the transaction, the insider directly owned 500,958 shares in the company, valued at approximately $8,927,071.56. This represents a 5.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 31.70% of the company’s stock.
MGP Ingredients Price Performance
MGPI stock opened at $17.50 on Wednesday. The firm has a 50 day simple moving average of $17.27 and a two-hundred day simple moving average of $19.03. The stock has a market cap of $374.68 million, a PE ratio of -1.55 and a beta of 0.47. MGP Ingredients, Inc. has a one year low of $15.72 and a one year high of $30.60. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.99 and a quick ratio of 1.65.
MGP Ingredients (NASDAQ:MGPI – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.23. MGP Ingredients had a negative net margin of 48.08% and a positive return on equity of 7.41%. The firm had revenue of $124.36 million for the quarter, compared to analysts’ expectations of $125.16 million. During the same quarter last year, the company posted $0.97 EPS. The business’s quarterly revenue was down 14.5% on a year-over-year basis. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. On average, analysts predict that MGP Ingredients, Inc. will post 1.65 EPS for the current fiscal year.
MGP Ingredients Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.48 annualized dividend and a yield of 2.7%. MGP Ingredients’s payout ratio is -4.26%.
MGP Ingredients Company Profile
MGP Ingredients, Inc (NASDAQ: MGPI) is a leading producer of distilled spirits and specialty ingredient solutions for the food, beverage and consumer products industries. Headquartered in Atchison, Kansas, the company operates two main facilities—its historic Atchison plant, founded in 1941 as Midwest Grain Products, and a modern distillery in Lawrenceburg, Indiana. MGP Ingredients supplies an array of distillation products under its beverage and ingredient segments, serving brand owners, private-label producers and co-packers worldwide.
The beverage segment features a broad portfolio of premium spirits, including bourbon and rye whiskies, vodka, gin and neutral spirits.
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