MGP Ingredients (MGPI) Stock Forecast, Price & News

3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for MGP Ingredients in the last twelve months. There are currently 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" MGPI shares.
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3 brokerages have issued 12 month price targets for MGP Ingredients' shares. Their MGPI share price forecasts range from $115.00 to $140.00. On average, they predict the company's share price to reach $124.50 in the next twelve months. This suggests a possible upside of 21.7% from the stock's current price.
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MGP Ingredients' stock was trading at $106.38 at the beginning of 2023. Since then, MGPI stock has decreased by 3.8% and is now trading at $102.29.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, August 3rd 2023.
View our MGPI earnings forecast.

MGP Ingredients, Inc. (NASDAQ:MGPI) announced its earnings results on Thursday, May, 4th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.29. The company had revenue of $201.01 million for the quarter, compared to the consensus estimate of $194.43 million. MGP Ingredients had a net margin of 12.97% and a trailing twelve-month return on equity of 13.86%. MGP Ingredients's revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.69 EPS.

MGP Ingredients declared a quarterly dividend on Thursday, May 4th. Stockholders of record on Friday, May 19th will be given a dividend of $0.12 per share on Friday, June 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Thursday, May 18th.
Read our dividend analysis for MGPI.

ETFs with the largest weight of MGP Ingredients (NASDAQ:MGPI) stock in their portfolio include AdvisorShares Vice ETF (VICE), Invesco S&P SmallCap Consumer Staples ETF (PSCC), VegTech Plant-based Innovation & Climate ETF (EATV), Invesco Dynamic Food & Beverage ETF (PBJ), B.A.D. Etf (BAD), Nuveen Small Cap Select ETF (NSCS), First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) and Invesco S&P SmallCap 600 Pure Growth ETF (RZG).

MGP Ingredients (NASDAQ:MGPI) pays an annual dividend of $0.48 per share and currently has a dividend yield of 0.49%. The dividend payout ratio is 10.41%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, MGPI will have a dividend payout ratio of 8.65% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for MGPI.

MGP Ingredients issued an update on its FY 2023 earnings guidance on Thursday, May, 4th. The company provided EPS guidance of $5.05-$5.20 for the period, compared to the consensus earnings per share estimate of $5.14. The company issued revenue guidance of $815.00 million-$835.00 million, compared to the consensus revenue estimate of $829.73 million.

1 employees have rated MGP Ingredients Chief Executive Officer Gus Griffin on Glassdoor.com. Gus Griffin has an approval rating of 100% among the company's employees. This puts Gus Griffin in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other MGP Ingredients investors own include Alibaba Group (BABA), Walt Disney (DIS), JD.com (JD), Intel (INTC), NVIDIA (NVDA), Tencent (TCEHY), Exxon Mobil (XOM), Aimmune Therapeutics (AIMT), Apple Hospitality REIT (APLE) and Boeing (BA).

MGP Ingredients trades on the NASDAQ under the ticker symbol "MGPI."

MGP Ingredients' stock is owned by many different retail and institutional investors. Top institutional shareholders include BlackRock Inc. (11.47%), Champlain Investment Partners LLC (4.39%), Stephens Investment Management Group LLC (3.51%), Dimensional Fund Advisors LP (3.11%), State Street Corp (2.29%) and Southernsun Asset Management LLC (1.70%). Insiders that own company stock include Brandon Gall, David E Dykstra, Donn S Lux, James L Bareuther, Karen Seaberg, Lori LS Mingus, Luxco 2017 Irrevocable Trust D, Michael Rodger Buttshaw, Michele Lux, Stephen J Glaser, Stephen J Glaser and Terrence P Dunn.
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Shares of MGPI stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of MGPI stock can currently be purchased for approximately $102.29.

MGP Ingredients (NASDAQ:MGPI) has a market capitalization of $2.25 billion and generates $788.13 million in revenue each year. The company earns $109.46 million in net income (profit) each year or $4.61 on an earnings per share basis.

The company employs 672 workers across the globe.

MGP Ingredients' mailing address is 100 Commercial Street, ATCHISON KS, 66002. The official website for the company is www.mgpingredients.com. The company can be reached via phone at (913) 367-1480, via email at investor.relations@mgpingredients.com, or via fax at 913-367-0192.