MGP Ingredients, Inc. (NASDAQ:MGPI) Receives Average Rating of “Hold” from Analysts

MGP Ingredients, Inc. (NASDAQ:MGPI) has been given a consensus recommendation of “Hold” by the five research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $35.00.

A number of equities analysts recently commented on MGPI shares. Wells Fargo & Company reduced their price target on MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MGP Ingredients in a research report on Wednesday, October 8th. TD Cowen decreased their target price on MGP Ingredients from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. Finally, Wall Street Zen upgraded MGP Ingredients from a “hold” rating to a “buy” rating in a research note on Saturday.

Insider Activity

In other news, Director Karen Seaberg sold 81,616 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $25.84, for a total value of $2,108,957.44. Following the transaction, the director owned 35,285 shares of the company’s stock, valued at approximately $911,764.40. This represents a 69.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Caroline Lux Kaplan sold 30,000 shares of MGP Ingredients stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $23.85, for a total value of $715,500.00. Following the sale, the insider directly owned 560,958 shares of the company’s stock, valued at approximately $13,378,848.30. The trade was a 5.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 334,535 shares of company stock valued at $8,224,668 in the last ninety days. 34.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its holdings in shares of MGP Ingredients by 130.3% during the second quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock worth $28,000 after buying an additional 529 shares in the last quarter. Tower Research Capital LLC TRC raised its stake 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 purchasing an additional 1,386 shares in the last quarter. GAMMA Investing LLC raised its stake in MGP Ingredients by 89.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,829 shares of the company’s stock worth $85,000 after purchasing an additional 1,332 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in MGP Ingredients by 382.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,811 shares of the company’s stock valued at $92,000 after purchasing an additional 3,021 shares during the period. Finally, State of Wyoming acquired a new position in shares of MGP Ingredients during the 2nd quarter worth approximately $117,000. 77.11% of the stock is owned by institutional investors and hedge funds.

MGP Ingredients Stock Down 0.9%

MGPI stock opened at $24.09 on Friday. The company has a market cap of $512.97 million, a price-to-earnings ratio of -35.96 and a beta of 0.39. MGP Ingredients has a twelve month low of $21.67 and a twelve month high of $40.26. The business has a 50 day moving average price of $24.36 and a two-hundred day moving average price of $26.92. 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 (NASDAQ:MGPI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.23. MGP Ingredients had a positive return on equity of 9.65% and a negative net margin of 2.56%.The company had revenue of $130.91 million for the quarter, compared to analysts’ expectations of $128.33 million. During the same quarter in the prior year, the business posted $1.29 EPS. The business’s revenue was down 18.9% compared to the same quarter last year. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. Analysts anticipate that MGP Ingredients will post 5.56 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 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 2.0%. The ex-dividend date was Friday, November 14th. MGP Ingredients’s dividend payout ratio (DPR) is currently -71.64%.

MGP Ingredients Company Profile

MGP Ingredients, Inc (NASDAQ: MGPI) is a leading producer of distilled spirits and specialty ingredient solutions for the food, beverage and consumer products industries. Headquartered in Atchison, Kansas, the company operates two main facilities—its historic Atchison plant, founded in 1941 as Midwest Grain Products, and a modern distillery in Lawrenceburg, Indiana. MGP Ingredients supplies an array of distillation products under its beverage and ingredient segments, serving brand owners, private-label producers and co-packers worldwide.

The beverage segment features a broad portfolio of premium spirits, including bourbon and rye whiskies, vodka, gin and neutral spirits.