Schechter Investment Advisors LLC Has $1.21 Million Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

Schechter Investment Advisors LLC cut its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI) by 9.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,320 shares of the company’s stock after selling 1,359 shares during the period. Schechter Investment Advisors LLC owned approximately 0.06% of MGP Ingredients worth $1,214,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. grew its stake in MGP Ingredients by 13.8% during the second quarter. BlackRock Inc. now owns 2,873,795 shares of the company’s stock worth $305,427,000 after buying an additional 349,237 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of MGP Ingredients in the 1st quarter valued at approximately $7,549,000. Vanguard Group Inc. raised its holdings in MGP Ingredients by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,092,288 shares of the company’s stock valued at $115,956,000 after buying an additional 86,892 shares during the last quarter. Two Sigma Investments LP raised its holdings in MGP Ingredients by 999.3% in the 1st quarter. Two Sigma Investments LP now owns 89,743 shares of the company’s stock valued at $8,680,000 after buying an additional 81,579 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in MGP Ingredients by 58.0% in the 3rd quarter. Victory Capital Management Inc. now owns 217,403 shares of the company’s stock valued at $22,932,000 after buying an additional 79,791 shares during the last quarter. 77.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $120.00 price objective on shares of MGP Ingredients in a report on Friday, March 22nd. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Thursday, March 21st.

Insider Activity at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 2,544 shares of MGP Ingredients stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $99.68, for a total transaction of $253,585.92. Following the transaction, the director now directly owns 55,377 shares of the company’s stock, valued at approximately $5,519,979.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other MGP Ingredients news, Director Karen Seaberg sold 2,544 shares of MGP Ingredients stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $99.68, for a total transaction of $253,585.92. Following the transaction, the director now directly owns 55,377 shares of the company’s stock, valued at approximately $5,519,979.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Erika Lapish acquired 500 shares of the business’s stock in a transaction on Monday, February 26th. The shares were purchased at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the completion of the acquisition, the vice president now directly owns 550 shares in the company, valued at $42,823. The disclosure for this purchase can be found here. 28.70% of the stock is currently owned by insiders.

MGP Ingredients Stock Performance

NASDAQ:MGPI opened at $85.80 on Thursday. The company has a fifty day moving average of $85.16 and a 200-day moving average of $93.09. The firm has a market capitalization of $1.89 billion, a P/E ratio of 17.88, a P/E/G ratio of 1.22 and a beta of 0.75. The company has a quick ratio of 1.47, a current ratio of 4.51 and a debt-to-equity ratio of 0.33. MGP Ingredients, Inc. has a twelve month low of $75.78 and a twelve month high of $124.96.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.26. MGP Ingredients had a net margin of 12.72% and a return on equity of 16.03%. The business had revenue of $214.90 million during the quarter, compared to the consensus estimate of $206.87 million. During the same quarter last year, the firm posted $1.01 EPS. MGP Ingredients’s revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that MGP Ingredients, Inc. will post 6.18 EPS for the current year.

MGP Ingredients Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, March 14th. MGP Ingredients’s payout ratio is currently 10.00%.

About MGP Ingredients

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.