Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 12.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,719 shares of the company’s stock after acquiring an additional 400 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MGP Ingredients were worth $366,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MGPI. Global Retirement Partners LLC boosted its stake in shares of MGP Ingredients by 464.8% in the fourth quarter. Global Retirement Partners LLC now owns 401 shares of the company’s stock valued at $37,000 after purchasing an additional 330 shares during the period. Quantbot Technologies LP grew its stake in shares of MGP Ingredients by 99.9% in the third quarter. Quantbot Technologies LP now owns 1,641 shares of the company’s stock worth $173,000 after acquiring an additional 820 shares in the last quarter. Cerity Partners LLC increased its position in shares of MGP Ingredients by 9.3% during the fourth quarter. Cerity Partners LLC now owns 2,186 shares of the company’s stock worth $215,000 after acquiring an additional 186 shares during the period. Insigneo Advisory Services LLC acquired a new stake in shares of MGP Ingredients in the third quarter valued at $261,000. Finally, KLR Investment Advisors LLC boosted its holdings in MGP Ingredients by 5.8% in the third quarter. KLR Investment Advisors LLC now owns 2,911 shares of the company’s stock valued at $282,000 after purchasing an additional 159 shares during the period. 77.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MGPI shares. StockNews.com lowered MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Roth Mkm reduced their target price on shares of MGP Ingredients from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Friday. Finally, Wedbush reiterated an “outperform” rating and set a $120.00 price target on shares of MGP Ingredients in a report on Monday, April 29th.

Insiders Place Their Bets

In other news, VP Erika Lapish bought 500 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost of $77.86 per share, with a total value of $38,930.00. Following the transaction, the vice president now directly owns 550 shares in the company, valued at $42,823. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 36.20% of the company’s stock.

MGP Ingredients Price Performance

Shares of NASDAQ MGPI opened at $80.62 on Friday. The stock’s 50-day simple moving average is $81.84 and its 200-day simple moving average is $88.69. The firm has a market capitalization of $1.77 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 1.21 and a beta of 0.75. MGP Ingredients, Inc. has a fifty-two week low of $75.78 and a fifty-two week high of $124.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.47 and a current ratio of 6.32.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The company had revenue of $170.56 million for the quarter, compared to analysts’ expectations of $170.31 million. MGP Ingredients had a net margin of 11.91% and a return on equity of 14.78%. During the same quarter last year, the company earned $1.39 earnings per share. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. As a group, equities research analysts forecast that MGP Ingredients, Inc. will post 6.18 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.12 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.48 annualized dividend and a yield of 0.60%. MGP Ingredients’s dividend payout ratio is presently 11.09%.

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.