MGP Ingredients, Inc. (NASDAQ:MGPI) Receives Consensus Rating of "Hold" from Brokerages

MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) has earned an average recommendation of "Hold" from the six brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $27.25.

Several research analysts recently commented on MGPI shares. Wells Fargo & Company lifted their target price on shares of MGP Ingredients from $21.00 to $22.00 and gave the stock an "overweight" rating in a 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, TD Cowen increased their target price on MGP Ingredients from $18.00 to $20.00 and gave the company a "hold" rating in a research note on Thursday, July 30th.

Insider Activity

In other news, insider Paul Lux sold 33,000 shares of the firm's stock in a transaction on 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 in the company, valued at approximately $9,776,134.08. This trade represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 31.70% of the company's stock.

Institutional Trading of MGP Ingredients

A number of hedge funds have recently bought and sold shares of MGPI. California State Teachers Retirement System grew its position in MGP Ingredients by 355.2% in the 2nd quarter. California State Teachers Retirement System now owns 3,469 shares of the company's stock worth $61,000 after purchasing an additional 2,707 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in MGP Ingredients during the second quarter worth about $111,000. Corient Private Wealth LP acquired a new stake in MGP Ingredients during the second quarter worth about $270,000. Bank of America Corp DE bought a new position in MGP Ingredients during the second quarter valued at about $1,857,000. Finally, Hsbc Holdings PLC acquired a new position in MGP Ingredients in the 2nd quarter valued at approximately $806,000. 77.11% of the stock is owned by institutional investors.

MGP Ingredients Stock Down 6.9%

MGPI opened at $15.09 on Thursday. The firm has a market cap of $323.08 million, a P/E ratio of -1.34 and a beta of 0.45. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.65 and a current ratio of 6.99. The business has a 50 day moving average price of $17.37 and a 200 day moving average price of $18.04. MGP Ingredients has a twelve month low of $14.99 and a twelve month high of $28.44.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.49 by $0.23. MGP Ingredients had a positive return on equity of 7.41% and a negative net margin of 48.08%.The company had revenue of $124.36 million for the quarter, compared to the consensus estimate of $125.16 million. During the same quarter last year, the company posted $0.97 earnings per share. The company'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. Research analysts forecast that MGP Ingredients will post 1.65 EPS for the current year.

MGP Ingredients Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 14th. MGP Ingredients's dividend payout ratio is currently -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.

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