MGP Ingredients (NASDAQ:MGPI) Releases FY22 Earnings Guidance

MGP Ingredients (NASDAQ:MGPIGet Rating) updated its FY22 earnings guidance on Thursday. The company provided EPS guidance of $4.41-4.65 for the period, compared to the consensus EPS estimate of $4.47. The company issued revenue guidance of $745-765 million, compared to the consensus revenue estimate of $716.68 million. MGP Ingredients also updated its FY 2022 guidance to $4.41-$4.65 EPS.

Wall Street Analysts Forecast Growth

Separately, Roth Capital began coverage on MGP Ingredients in a report on Thursday, June 30th. They set a buy rating and a $115.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $103.50.

MGP Ingredients Stock Up 1.9 %

Shares of MGPI stock traded up $2.00 on Friday, reaching $109.03. 181,671 shares of the company were exchanged, compared to its average volume of 122,539. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.53 and a quick ratio of 1.61. The company has a 50-day moving average of $99.16 and a 200-day moving average of $90.48. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 20.49 and a beta of 1.01. MGP Ingredients has a one year low of $60.43 and a one year high of $109.28.

MGP Ingredients (NASDAQ:MGPIGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.27. The business had revenue of $195.00 million for the quarter, compared to analyst estimates of $173.06 million. MGP Ingredients had a return on equity of 16.09% and a net margin of 16.12%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 earnings per share. Analysts anticipate that MGP Ingredients will post 4.41 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, August 19th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Thursday, August 18th. MGP Ingredients’s dividend payout ratio (DPR) is 9.02%.

Insider Transactions at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 1,000 shares of MGP Ingredients stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $105.63, for a total transaction of $105,630.00. Following the completion of the transaction, the director now owns 61,632 shares in the company, valued at approximately $6,510,188.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other MGP Ingredients news, Director Karen Seaberg sold 1,000 shares of MGP Ingredients stock in a transaction on Monday, August 1st. The shares were sold at an average price of $105.63, for a total transaction of $105,630.00. Following the transaction, the director now directly owns 61,632 shares of the company’s stock, valued at approximately $6,510,188.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David E. Dykstra sold 1,571 shares of the stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $95.48, for a total transaction of $149,999.08. Following the completion of the sale, the vice president now owns 13,751 shares of the company’s stock, valued at approximately $1,312,945.48. The disclosure for this sale can be found here. Insiders sold a total of 11,202 shares of company stock valued at $1,120,098 over the last three months. Corporate insiders own 36.70% of the company’s stock.

Hedge Funds Weigh In On MGP Ingredients

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Neuberger Berman Group LLC increased its position in MGP Ingredients by 38.9% in the first quarter. Neuberger Berman Group LLC now owns 44,169 shares of the company’s stock worth $3,780,000 after buying an additional 12,361 shares during the last quarter. Toroso Investments LLC bought a new stake in MGP Ingredients in the 1st quarter valued at about $230,000. Advisors Asset Management Inc. boosted its position in MGP Ingredients by 24.7% during the first quarter. Advisors Asset Management Inc. now owns 21,838 shares of the company’s stock worth $1,869,000 after purchasing an additional 4,327 shares during the period. Quantbot Technologies LP increased its stake in shares of MGP Ingredients by 156.0% in the first quarter. Quantbot Technologies LP now owns 4,510 shares of the company’s stock worth $386,000 after purchasing an additional 2,748 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its position in shares of MGP Ingredients by 1.7% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 25,276 shares of the company’s stock valued at $2,163,000 after purchasing an additional 427 shares during the period. Hedge funds and other institutional investors own 77.38% of the company’s stock.

MGP Ingredients Company Profile

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MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, branded spirits, and food ingredients. It operates through three segments: Distillery Products; Branded Spirits; and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food-grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.

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Earnings History and Estimates for MGP Ingredients (NASDAQ:MGPI)

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