MGP Ingredients, Inc. (NASDAQ:MGPI) Given Average Recommendation of “Moderate Buy” by Brokerages

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

Several equities research analysts recently issued reports on MGPI shares. TD Cowen cut their price objective 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. Wells Fargo & Company cut their price target 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. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of MGP Ingredients in a research report on Wednesday, October 8th.

MGP Ingredients Stock Performance

Shares of MGP Ingredients stock opened at $25.85 on Friday. The business’s 50 day moving average price is $25.40 and its 200 day moving average price is $28.55. The company has a market cap of $550.45 million, a price-to-earnings ratio of -38.58 and a beta of 0.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 2.78. MGP Ingredients has a one year low of $23.28 and a one year high of $51.52.

MGP Ingredients (NASDAQ:MGPI) last issued its 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. 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 during the quarter, compared to analysts’ expectations of $128.33 million. During the same period in the prior year, the business earned $1.29 EPS. The firm’s quarterly revenue was down 18.9% on a year-over-year basis. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. On average, research analysts predict that MGP Ingredients will post 5.56 EPS for the current year.

MGP Ingredients Dividend Announcement

The firm 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. The ex-dividend date is Friday, November 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. MGP Ingredients’s payout ratio is currently -71.64%.

Hedge Funds Weigh In On MGP Ingredients

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in MGP Ingredients by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,222,672 shares of the company’s stock valued at $29,576,000 after buying an additional 99,995 shares during the period. Federated Hermes Inc. increased its position in shares of MGP Ingredients by 32.8% during the third quarter. Federated Hermes Inc. now owns 987,123 shares of the company’s stock valued at $23,879,000 after acquiring an additional 243,909 shares during the last quarter. Ariel Investments LLC raised its stake in shares of MGP Ingredients by 14.9% in the 2nd quarter. Ariel Investments LLC now owns 719,144 shares of the company’s stock valued at $21,553,000 after acquiring an additional 93,086 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of MGP Ingredients by 13.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 400,896 shares of the company’s stock worth $12,015,000 after acquiring an additional 46,978 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of MGP Ingredients by 116.6% during the 1st quarter. Millennium Management LLC now owns 359,813 shares of the company’s stock worth $10,571,000 after purchasing an additional 193,660 shares during the period. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

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.