MGP Ingredients (NASDAQ:MGPI) Hits New 1-Year Low Following Analyst Downgrade

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) hit a new 52-week low during trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $38.00 to $33.00. Wells Fargo & Company currently has an overweight rating on the stock. MGP Ingredients traded as low as $25.12 and last traded at $25.10, with a volume of 46373 shares changing hands. The stock had previously closed at $25.77.

Hedge Funds Weigh In On MGP Ingredients

Large investors have recently modified their holdings of the stock. Brooklyn Investment Group raised its position in shares of MGP Ingredients by 2,365.7% in the 1st quarter. Brooklyn Investment Group now owns 863 shares of the company’s stock worth $25,000 after purchasing an additional 828 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of MGP Ingredients by 333.3% in the 1st quarter. Penserra Capital Management LLC now owns 897 shares of the company’s stock worth $26,000 after purchasing an additional 690 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of MGP Ingredients by 130.3% in the 2nd quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 529 shares during the last quarter. GAMMA Investing LLC raised its position in shares of MGP Ingredients by 114.8% in the 1st quarter. GAMMA Investing LLC now owns 1,497 shares of the company’s stock worth $44,000 after purchasing an additional 800 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in MGP Ingredients by 278.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock worth $56,000 after buying an additional 1,386 shares in the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Price Performance

The firm has a fifty day moving average of $28.74 and a 200 day moving average of $29.59. The company has a market capitalization of $530.97 million, a P/E ratio of -80.45 and a beta of 0.35. The company has a current ratio of 2.91, a quick ratio of 0.79 and a debt-to-equity ratio of 0.35.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.64 by $0.33. MGP Ingredients had a positive return on equity of 10.66% and a negative net margin of 1.08%.The company had revenue of $145.49 million during the quarter, compared to the consensus estimate of $138.70 million. During the same period last year, the company earned $1.71 EPS. MGP Ingredients’s revenue for the quarter was down 23.7% on a year-over-year basis. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. On average, equities research analysts anticipate that MGP Ingredients, Inc. will post 5.56 EPS for the current year.

MGP Ingredients Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, August 15th. MGP Ingredients’s dividend payout ratio (DPR) is presently -154.84%.

MGP Ingredients Company 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.