MGP Ingredients, Inc. (NASDAQ:MGPI) Receives Average Rating of “Moderate Buy” from Brokerages

MGP Ingredients, Inc. (NASDAQ:MGPI) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com 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 1-year price target among brokerages that have covered the stock in the last year is $40.00.

Several equities research analysts have recently commented on the stock. TD Cowen lowered 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 report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MGP Ingredients in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company lowered their target price on shares of MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, September 25th.

Insider Buying and Selling

In other MGP Ingredients news, major shareholder Caroline Lux Kaplan sold 30,000 shares of the stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $23.85, for a total value of $715,500.00. Following the transaction, the insider owned 560,958 shares of the company’s stock, valued at approximately $13,378,848.30. This represents a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 34.40% of the company’s stock.

Institutional Trading of MGP Ingredients

A number of hedge funds have recently modified their holdings of the company. Virtus Advisers LLC acquired a new position in MGP Ingredients during the third quarter valued at approximately $433,000. Verition Fund Management LLC raised its holdings in MGP Ingredients by 39.1% in the third quarter. Verition Fund Management LLC now owns 47,016 shares of the company’s stock worth $1,137,000 after purchasing an additional 13,225 shares during the period. Mairs & Power Inc. boosted its position in shares of MGP Ingredients by 0.4% during the third quarter. Mairs & Power Inc. now owns 176,393 shares of the company’s stock worth $4,267,000 after purchasing an additional 619 shares in the last quarter. Millennium Management LLC grew its holdings in shares of MGP Ingredients by 74.1% in the 3rd quarter. Millennium Management LLC now owns 28,621 shares of the company’s stock valued at $692,000 after buying an additional 12,183 shares during the period. Finally, Brevan Howard Capital Management LP increased its position in shares of MGP Ingredients by 60.7% in the 3rd quarter. Brevan Howard Capital Management LP now owns 39,706 shares of the company’s stock valued at $960,000 after buying an additional 14,996 shares in the last quarter. 77.11% of the stock is currently owned by institutional investors and hedge funds.

MGP Ingredients Trading Down 6.5%

MGPI stock opened at $24.02 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. MGP Ingredients has a twelve month low of $21.67 and a twelve month high of $47.14. The company has a market cap of $511.39 million, a P/E ratio of -35.85 and a beta of 0.39. The business has a fifty day moving average of $24.18 and a 200-day moving average of $27.51.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.85 earnings per share (EPS) for the quarter, beating 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 firm’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.29 earnings per share. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. As a group, equities research analysts expect that MGP Ingredients will post 5.56 EPS for the current year.

MGP Ingredients Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. MGP Ingredients’s payout ratio is -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.