MGP Ingredients (NASDAQ:MGPI) Price Target Cut to $17.00 by Analysts at Wells Fargo & Company

MGP Ingredients (NASDAQ:MGPI) had its target price trimmed by Wells Fargo & Company from $22.00 to $17.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of MGP Ingredients in a report on Friday, July 31st. TD Cowen boosted their target price on shares of MGP Ingredients from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.00.

MGP Ingredients Price Performance

NASDAQ MGPI opened at $12.77 on Monday. MGP Ingredients has a one year low of $12.42 and a one year high of $26.77. The stock has a 50-day moving average of $16.02 and a 200 day moving average of $17.27. The company has a market capitalization of $273.46 million, a price-to-earnings ratio of -1.13 and a beta of 0.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.65 and a current ratio of 6.99.

MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Wednesday, July 29th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.23. The business had revenue of $124.36 million for the quarter, compared to analysts’ expectations of $125.16 million. MGP Ingredients had a negative net margin of 48.08% and a positive return on equity of 7.41%. The business’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 EPS. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. On average, sell-side analysts forecast that MGP Ingredients will post 1.65 EPS for the current year.

MGP Ingredients Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a $0.12 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.48 annualized dividend and a yield of 3.8%. MGP Ingredients’s dividend payout ratio (DPR) is presently -4.26%.

Insider Activity at MGP Ingredients

In other news, insider Leslie Lux sold 27,731 shares of MGP Ingredients stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $14.40, for a total transaction of $399,326.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Lux sold 33,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $17.76, for a total transaction of $586,080.00. Following the sale, the insider directly owned 550,458 shares of the company’s stock, valued at approximately $9,776,134.08. The trade was a 5.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 31.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MGP Ingredients

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in MGP Ingredients in the second quarter worth about $22,258,000. Dimensional Fund Advisors LP grew its stake in shares of MGP Ingredients by 11.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 760,128 shares of the company’s stock valued at $13,979,000 after acquiring an additional 78,849 shares during the period. Tieton Capital Management LLC bought a new position in shares of MGP Ingredients during the 2nd quarter valued at approximately $11,252,000. Allspring Global Investments Holdings LLC purchased a new stake in MGP Ingredients in the 1st quarter worth approximately $3,064,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in MGP Ingredients in the 1st quarter worth approximately $2,725,000. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

MGP Ingredients Company Profile

MGP Ingredients, Inc (NASDAQ: MGPI) is a food and beverage company headquartered in Atchison, Kansas. The company develops and produces distilled spirits, specialty wheat proteins, and specialty starches for consumer brands, food manufacturers, and other commercial customers.

Through its branded spirits business, MGP offers a portfolio of bourbon, rye whiskey, American whiskey, vodka, gin, and other distilled products. Its brands include Lux Row Distillers’ Ezra Brooks, Daviess County, and Yellowstone Bourbon, as well as Remus Repeal Reserve.