MGP Ingredients (NASDAQ:MGPI) Reaches New 1-Year Low - Time to Sell?

Key Points

• MGP Ingredients' stock has reached a new **52-week low** of $23.80, with an average rating of "Moderate Buy" and a consensus target price of **$49.67**.
• The company reported earnings of **$0.97 per share**, surpassing estimates, despite a **23.7% year-over-year** decline in revenue for the last quarter.
• MGP Ingredients announced a quarterly **dividend of $0.12**, indicating an annualized yield of **2.0%**, while the company's payout ratio is currently **-154.84%**.

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $23.80 and last traded at $24.19, with a volume of 220602 shares. The stock had previously closed at $24.40.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company cut their price objective on MGP Ingredients from $38.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, MGP Ingredients presently has an average rating of "Moderate Buy" and a consensus target price of $49.67.

MGP Ingredients Stock Performance

The company has a market capitalization of $515.08 million, a P/E ratio of -78.03 and a beta of 0.35. The stock has a fifty day simple moving average of $28.37 and a 200-day simple moving average of $29.44. The company has a quick ratio of 0.79, a current ratio of 2.91 and a debt-to-equity ratio of 0.35.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.33. MGP Ingredients had a positive return on equity of 10.66% and a negative net margin of 1.08%.The company had revenue of $145.49 million during the quarter, compared to analysts' expectations of $138.70 million. During the same period last year, the business earned $1.71 earnings per share. The business's revenue was down 23.7% on a year-over-year basis. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. Equities analysts forecast that MGP Ingredients, Inc. will post 5.56 EPS for the current year.

MGP Ingredients Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, August 15th. MGP Ingredients's payout ratio is currently -154.84%.

Institutional Trading of MGP Ingredients

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group increased its position in MGP Ingredients by 2,365.7% in the first quarter. Brooklyn Investment Group now owns 863 shares of the company's stock worth $25,000 after purchasing an additional 828 shares during the period. Penserra Capital Management LLC increased its position in MGP Ingredients by 333.3% in the first quarter. Penserra Capital Management LLC now owns 897 shares of the company's stock worth $26,000 after purchasing an additional 690 shares during the period. Osaic Holdings Inc. increased its position in MGP Ingredients by 130.3% in the second quarter. Osaic Holdings Inc. now owns 935 shares of the company's stock worth $28,000 after purchasing an additional 529 shares during the period. GAMMA Investing LLC increased its position in MGP Ingredients by 114.8% in the first quarter. GAMMA Investing LLC now owns 1,497 shares of the company's stock worth $44,000 after purchasing an additional 800 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in MGP Ingredients by 278.9% in 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 period. 77.11% of the stock is currently owned by institutional investors and hedge funds.

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.

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