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

MGP Ingredients, Inc. (NASDAQ:MGPI) has been given an average rating of “Hold” by the five research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $33.25.

A number of brokerages recently commented on MGPI. Weiss Ratings reiterated a “sell (d)” rating on shares of MGP Ingredients in a report on Wednesday, October 8th. TD Cowen lowered their target price on MGP Ingredients from $27.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday. Wells Fargo & Company reduced their price target on shares of MGP Ingredients from $33.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Wall Street Zen upgraded shares of MGP Ingredients from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd.

MGP Ingredients Stock Up 0.0%

MGP Ingredients stock opened at $24.76 on Friday. MGP Ingredients has a fifty-two week low of $21.67 and a fifty-two week high of $38.11. The stock has a market cap of $527.14 million, a PE ratio of -36.96 and a beta of 0.37. The firm’s 50-day simple moving average is $24.39 and its 200 day simple moving average is $26.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.69 and a current ratio of 2.78.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.62 by $0.23. MGP Ingredients had a negative net margin of 2.56% and a positive return on equity of 9.65%. The firm had revenue of $130.91 million during the quarter, compared to analyst estimates of $128.33 million. During the same quarter last year, the business posted $1.29 EPS. The company’s revenue for the quarter was down 18.9% on a year-over-year basis. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. Research analysts predict that MGP Ingredients will post 5.56 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, November 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.9%. MGP Ingredients’s dividend payout ratio (DPR) is presently -71.64%.

Insider Activity at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 181,095 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $24.24, for a total transaction of $4,389,742.80. Following the completion of the transaction, the director directly owned 37,417 shares of the company’s stock, valued at approximately $906,988.08. This represents a 82.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Caroline Lux Kaplan sold 30,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $23.85, for a total value of $715,500.00. Following the completion of the sale, the insider owned 560,958 shares in the company, valued at approximately $13,378,848.30. The trade was a 5.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 334,535 shares of company stock worth $8,224,668. 34.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On MGP Ingredients

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGPI. Osaic Holdings Inc. raised its position in shares of MGP Ingredients by 130.3% in the second quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock valued at $28,000 after purchasing an additional 529 shares during the period. Tower Research Capital LLC TRC raised its holdings in MGP Ingredients by 278.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock valued at $56,000 after acquiring an additional 1,386 shares during the period. GAMMA Investing LLC raised its holdings in MGP Ingredients by 89.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,829 shares of the company’s stock valued at $85,000 after acquiring an additional 1,332 shares during the period. Hantz Financial Services Inc. lifted its position in shares of MGP Ingredients by 382.4% during the third quarter. Hantz Financial Services Inc. now owns 3,811 shares of the company’s stock worth $92,000 after acquiring an additional 3,021 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new position in shares of MGP Ingredients in the third quarter worth $96,000. Institutional investors own 77.11% of the company’s stock.

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.