MGP Ingredients, Inc. (NASDAQ:MGPI) Receives $26.50 Average Target Price from Analysts

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) have earned a consensus rating of “Hold” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $26.50.

MGPI has been the subject of a number of research analyst reports. Zacks Research raised MGP Ingredients from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Weiss Ratings downgraded MGP Ingredients from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Wells Fargo & Company reduced their target price on MGP Ingredients from $24.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 8th. Finally, TD Cowen decreased their target price on MGP Ingredients from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, June 26th.

Insiders Place Their Bets

In other MGP Ingredients news, major shareholder Caroline Lux Kaplan sold 30,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $17.82, for a total value of $534,600.00. Following the completion of the sale, the insider directly owned 500,958 shares of the company’s stock, valued at $8,927,071.56. The trade was a 5.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 31.70% of the stock is owned by insiders.

Institutional Trading of MGP Ingredients

Several institutional investors and hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. boosted its holdings in shares of MGP Ingredients by 45.7% in the fourth quarter. Federated Hermes Inc. now owns 1,437,836 shares of the company’s stock valued at $34,939,000 after purchasing an additional 450,713 shares during the period. Vanguard Group Inc. increased its holdings in MGP Ingredients by 8.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,222,672 shares of the company’s stock worth $29,576,000 after purchasing an additional 99,995 shares during the period. Dimensional Fund Advisors LP increased its holdings in MGP Ingredients by 11.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 760,128 shares of the company’s stock worth $13,979,000 after purchasing an additional 78,849 shares during the period. Ameriprise Financial Inc. raised its position in MGP Ingredients by 13.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 400,896 shares of the company’s stock valued at $12,015,000 after purchasing an additional 46,978 shares in the last quarter. Finally, Millennium Management LLC raised its position in MGP Ingredients by 116.6% during the 1st quarter. Millennium Management LLC now owns 359,813 shares of the company’s stock valued at $10,571,000 after purchasing an additional 193,660 shares in the last quarter. Institutional investors own 77.11% of the company’s stock.

MGP Ingredients Stock Performance

Shares of NASDAQ:MGPI opened at $17.69 on Wednesday. The company has a current ratio of 2.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.41. MGP Ingredients has a 12 month low of $15.72 and a 12 month high of $31.95. The company has a market capitalization of $378.04 million, a price-to-earnings ratio of -1.59 and a beta of 0.46. The firm’s 50-day moving average is $17.13 and its 200 day moving average is $19.88.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.11. MGP Ingredients had a negative net margin of 45.70% and a positive return on equity of 7.48%. The business had revenue of $106.43 million during the quarter, compared to the consensus estimate of $105.32 million. During the same quarter last year, the firm earned $0.36 earnings per share. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. Research analysts predict that MGP Ingredients will post 1.6 EPS for the current year.

MGP Ingredients Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, May 15th. MGP Ingredients’s dividend payout ratio (DPR) is currently -4.31%.

About MGP Ingredients

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.