MGP Ingredients, Inc. (NASDAQ:MGPI) Receives $30.00 Consensus Price Target from Analysts

MGP Ingredients, Inc. (NASDAQ:MGPI) has received a consensus recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $30.00.

A number of research analysts have issued reports on the stock. Wells Fargo & Company cut their price target on shares of MGP Ingredients from $29.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Wall Street Zen lowered shares of MGP Ingredients from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Zacks Research downgraded MGP Ingredients from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. TD Cowen reduced their target price on MGP Ingredients from $27.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, January 8th. Finally, Benchmark initiated coverage on MGP Ingredients in a research report on Thursday, January 22nd. They set a “buy” rating and a $35.00 price target for the company.

MGP Ingredients Trading Up 4.2%

NASDAQ:MGPI opened at $17.19 on Thursday. The stock has a market capitalization of $367.18 million, a price-to-earnings ratio of -3.45 and a beta of 0.44. MGP Ingredients has a 52 week low of $16.45 and a 52 week high of $34.99. The company has a quick ratio of 0.70, a current ratio of 2.61 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $22.60 and a 200 day moving average of $24.06.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.14. MGP Ingredients had a positive return on equity of 7.46% and a negative net margin of 19.82%.The business had revenue of $138.32 million for the quarter, compared to the consensus estimate of $132.84 million. During the same period in the prior year, the firm posted $1.57 earnings per share. The business’s quarterly revenue was down 23.5% on a year-over-year basis. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. As a group, sell-side analysts anticipate that MGP Ingredients will post 5.56 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, March 13th. MGP Ingredients’s dividend payout ratio is -9.64%.

Institutional Investors Weigh In On MGP Ingredients

Several hedge funds have recently added to or reduced their stakes in MGPI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in MGP Ingredients by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,446 shares of the company’s stock worth $248,000 after purchasing an additional 390 shares during the period. Illumine Investment Management LLC lifted its holdings in shares of MGP Ingredients by 2.3% in the 3rd quarter. Illumine Investment Management LLC now owns 18,903 shares of the company’s stock valued at $457,000 after buying an additional 433 shares during the period. Counterpoint Mutual Funds LLC boosted its stake in shares of MGP Ingredients by 2.2% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 20,737 shares of the company’s stock worth $504,000 after buying an additional 440 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of 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 buying an additional 529 shares during the last quarter. Finally, Mairs & Power Inc. grew its holdings in MGP Ingredients by 0.4% during the third quarter. Mairs & Power Inc. now owns 176,393 shares of the company’s stock worth $4,267,000 after acquiring an additional 619 shares during the period. 77.11% of the stock is owned by hedge funds and other institutional investors.

About MGP Ingredients

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.