Wells Fargo & Company Has Lowered Expectations for MGP Ingredients (NASDAQ:MGPI) Stock Price

MGP Ingredients (NASDAQ:MGPI) had its target price lowered by analysts at Wells Fargo & Company from $24.00 to $21.00 in a research note issued on Wednesday, MarketBeat.com reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 26.28% from the stock’s previous close.

Other analysts also recently issued reports about the company. Zacks Research upgraded MGP Ingredients from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. TD Cowen cut their price target on MGP Ingredients from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, June 26th. Finally, Weiss Ratings lowered shares of MGP Ingredients from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.50.

MGP Ingredients Trading Up 1.1%

Shares of MGP Ingredients stock opened at $16.63 on Wednesday. MGP Ingredients has a 12-month low of $15.72 and a 12-month high of $32.60. The company has a current ratio of 2.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.41. The stock has a market cap of $355.38 million, a PE ratio of -1.49 and a beta of 0.46. The company has a 50-day moving average of $17.56 and a two-hundred day moving average of $20.46.

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

Insiders Place Their Bets

In other MGP Ingredients news, major shareholder Caroline Lux Kaplan sold 30,000 shares of the company’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 transaction, the insider directly owned 500,958 shares in the company, valued at approximately $8,927,071.56. This represents a 5.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 31.70% of the company’s stock.

Hedge Funds Weigh In On MGP Ingredients

A number of institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. boosted its position in 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 acquiring an additional 529 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in MGP Ingredients by 653.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,304 shares of the company’s stock valued at $32,000 after acquiring an additional 1,131 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of MGP Ingredients during the 4th quarter worth $32,000. Quadrant Capital Group LLC lifted its stake in shares of MGP Ingredients by 237.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,830 shares of the company’s stock worth $44,000 after purchasing an additional 1,287 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of MGP Ingredients by 278.9% during the second 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 during the last quarter. Institutional investors and hedge funds own 77.11% of the company’s stock.

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.