MGP Ingredients, Inc. (NASDAQ:MGPI) Receives Consensus Recommendation of “Hold” from Brokerages

MGP Ingredients, Inc. (NASDAQ:MGPI) has received an average rating of “Hold” from the six analysts that are currently covering the company, Marketbeat.com 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 twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $27.25.

Several research analysts recently issued reports on the stock. TD Cowen increased their price target on shares of MGP Ingredients from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MGP Ingredients in a research note on Friday, July 31st. Finally, Wells Fargo & Company increased their target price on MGP Ingredients from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th.

Insider Activity at MGP Ingredients

In other news, insider Paul Lux sold 33,000 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $17.76, for a total value of $586,080.00. Following the sale, the insider owned 550,458 shares of the company’s stock, valued at approximately $9,776,134.08. This represents a 5.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 31.70% of the company’s stock.

Hedge Funds Weigh In On MGP Ingredients

Several institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in MGP Ingredients by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,446 shares of the company’s stock worth $248,000 after buying an additional 390 shares during the last quarter. Counterpoint Mutual Funds LLC raised its stake in shares of MGP Ingredients by 2.2% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 20,737 shares of the company’s stock valued at $504,000 after acquiring an additional 440 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of MGP Ingredients by 130.3% in the second quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock valued at $28,000 after acquiring an additional 529 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of MGP Ingredients by 4.8% in the 2nd quarter. Prudential Financial Inc. now owns 14,608 shares of the company’s stock worth $438,000 after acquiring an additional 666 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of MGP Ingredients by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 52,446 shares of the company’s stock worth $1,572,000 after acquiring an additional 666 shares in the last quarter. 77.11% of the stock is owned by institutional investors.

MGP Ingredients Trading Down 6.9%

Shares of MGP Ingredients stock opened at $15.09 on Thursday. The firm has a market capitalization of $323.08 million, a PE ratio of -1.34 and a beta of 0.45. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.99 and a quick ratio of 1.65. The company’s fifty day moving average price is $17.37 and its two-hundred day moving average price is $18.04. MGP Ingredients has a 52-week low of $14.99 and a 52-week high of $28.44.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.23. MGP Ingredients had a negative net margin of 48.08% and a positive return on equity of 7.41%. The company had revenue of $124.36 million during the quarter, compared to the consensus estimate of $125.16 million. During the same period last year, the firm earned $0.97 EPS. The firm’s revenue for the quarter was down 14.5% compared to the same quarter last year. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. On average, analysts expect that MGP Ingredients will post 1.65 EPS for the current year.

MGP Ingredients Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.2%. MGP Ingredients’s dividend payout ratio (DPR) is presently -4.26%.

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.