MGP Ingredients, Inc. (NASDAQ:MGPI) Receives $40.00 Average Price Target from Analysts

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) have received an average rating of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $40.00.

MGPI has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of MGP Ingredients in a report on Wednesday, October 8th. Wells Fargo & Company dropped their target price on shares of MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Finally, TD Cowen decreased their price target on shares of MGP Ingredients from $30.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, October 30th.

Institutional Investors Weigh In On MGP Ingredients

Several large investors have recently added to or reduced their stakes in MGPI. Principal Financial Group Inc. lifted its holdings in MGP Ingredients by 2.2% during the first quarter. Principal Financial Group Inc. now owns 70,133 shares of the company’s stock valued at $2,061,000 after purchasing an additional 1,499 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of MGP Ingredients by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 179,160 shares of the company’s stock valued at $5,264,000 after purchasing an additional 1,869 shares during the period. CWM LLC lifted its stake in shares of MGP Ingredients by 127.4% during the 1st quarter. CWM LLC now owns 2,051 shares of the company’s stock valued at $60,000 after buying an additional 1,149 shares in the last quarter. Signaturefd LLC lifted its stake in shares of MGP Ingredients by 1,055.2% during the 1st quarter. Signaturefd LLC now owns 2,218 shares of the company’s stock valued at $65,000 after buying an additional 2,026 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in MGP Ingredients by 576.4% in the 1st quarter. Federated Hermes Inc. now owns 262,329 shares of the company’s stock worth $7,707,000 after buying an additional 223,548 shares during the period. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Stock Performance

Shares of MGPI opened at $25.03 on Friday. The company has a current ratio of 2.78, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $532.99 million, a price-to-earnings ratio of -37.36 and a beta of 0.39. The stock has a 50 day moving average of $25.31 and a 200 day moving average of $28.50. MGP Ingredients has a 12 month low of $23.28 and a 12 month high of $50.82.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.23. The business had revenue of $130.91 million for the quarter, compared to analysts’ expectations of $128.33 million. MGP Ingredients had a positive return on equity of 9.65% and a negative net margin of 2.56%.The business’s revenue was down 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.29 earnings per share. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. As a group, sell-side analysts forecast that MGP Ingredients will post 5.56 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, November 14th. MGP Ingredients’s dividend payout ratio (DPR) is currently -71.64%.

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.