MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI) by 16.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 579,067 shares of the company’s stock after acquiring an additional 83,445 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.64% of MGP Ingredients worth $22,798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in MGPI. Raymond James Financial Inc. acquired a new stake in MGP Ingredients during the fourth quarter valued at approximately $13,125,000. Assenagon Asset Management S.A. lifted its position in shares of MGP Ingredients by 1,292.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 188,693 shares of the company’s stock valued at $7,429,000 after acquiring an additional 175,142 shares during the last quarter. State Street Corp lifted its position in shares of MGP Ingredients by 22.4% during the 3rd quarter. State Street Corp now owns 717,675 shares of the company’s stock valued at $59,746,000 after acquiring an additional 131,542 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of MGP Ingredients during the 4th quarter worth $4,072,000. Finally, Edgestream Partners L.P. acquired a new position in shares of MGP Ingredients in the 4th quarter worth $3,679,000. Institutional investors own 77.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. StockNews.com lowered MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Lake Street Capital upgraded shares of MGP Ingredients from a “hold” rating to a “buy” rating and decreased their target price for the stock from $55.00 to $45.00 in a report on Thursday, February 27th. Roth Mkm cut their price target on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Finally, Wells Fargo & Company decreased their price objective on shares of MGP Ingredients from $40.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.00.

MGP Ingredients Price Performance

NASDAQ MGPI opened at $27.09 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. The firm has a market capitalization of $576.20 million, a price-to-earnings ratio of 5.63 and a beta of 0.61. The company has a 50 day simple moving average of $32.07 and a 200-day simple moving average of $45.74. MGP Ingredients, Inc. has a 52-week low of $25.62 and a 52-week high of $92.52.

MGP Ingredients Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Friday, March 14th. MGP Ingredients’s dividend payout ratio (DPR) is currently 31.79%.

Insider Activity

In related news, Director Karen Seaberg sold 28,304 shares of MGP Ingredients stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $30.82, for a total transaction of $872,329.28. Following the completion of the sale, the director now owns 283,569 shares of the company’s stock, valued at approximately $8,739,596.58. This trade represents a 9.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 36.20% of the stock is currently owned by corporate insiders.

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.