MGP Ingredients, Inc. (NASDAQ:MGPI) Stock Rated “Hold” by Wall Street Brokerages

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) have received a consensus recommendation of “Hold” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $26.00.

A number of analysts have recently issued reports on the stock. TD Cowen boosted their target price on shares of MGP Ingredients from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of MGP Ingredients in a research report on Friday, July 31st. Finally, Wells Fargo & Company decreased their target price on shares of MGP Ingredients from $22.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, October 5th.

MGP Ingredients Stock Up 0.1%

Shares of MGPI opened at $13.78 on Monday. The business has a fifty day moving average of $15.63 and a 200 day moving average of $17.17. The company has a market cap of $295.03 million, a PE ratio of -1.22 and a beta of 0.49. The company has a quick ratio of 1.65, a current ratio of 6.99 and a debt-to-equity ratio of 0.61. MGP Ingredients has a 52-week low of $12.42 and a 52-week high of $26.77.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.49 by $0.23. The company had revenue of $124.36 million for the quarter, compared to the consensus estimate of $125.16 million. MGP Ingredients had a negative net margin of 48.08% and a positive return on equity of 7.41%. The firm’s revenue was down 14.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 EPS. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. On average, sell-side analysts expect that MGP Ingredients will post 1.65 EPS for the current year.

MGP Ingredients Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.12 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.48 dividend on an annualized basis and a yield of 3.5%. MGP Ingredients’s dividend payout ratio (DPR) is -4.26%.

Insider Buying and Selling at MGP Ingredients

In related news, insider Paul S. Lux sold 33,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $17.76, for a total transaction of $586,080.00. Following the completion of the transaction, the insider directly owned 550,458 shares in the company, valued at $9,776,134.08. The trade was a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Leslie Lux sold 27,731 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $14.40, for a total value of $399,326.40. The SEC filing for this sale provides additional information. Insiders own 31.70% of the company’s stock.

Hedge Funds Weigh In On MGP Ingredients

Several large investors have recently made changes to their positions in MGPI. Legal & General Group Plc purchased a new position in MGP Ingredients during the second quarter valued at $28,000. GAMMA Investing LLC boosted its stake in MGP Ingredients by 334.0% during the third quarter. GAMMA Investing LLC now owns 2,439 shares of the company’s stock worth $32,000 after buying an additional 1,877 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of MGP Ingredients in the second quarter valued at about $55,000. Versant Capital Management Inc grew its stake in shares of MGP Ingredients by 398.6% in the 3rd quarter. Versant Capital Management Inc now owns 6,901 shares of the company’s stock valued at $91,000 after buying an additional 5,517 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in MGP Ingredients in the second quarter worth approximately $111,000. 77.11% of the stock is currently owned by institutional investors and hedge funds.

About MGP Ingredients

MGP Ingredients, Inc (NASDAQ: MGPI) is a food and beverage company headquartered in Atchison, Kansas. The company develops and produces distilled spirits, specialty wheat proteins, and specialty starches for consumer brands, food manufacturers, and other commercial customers.

Through its branded spirits business, MGP offers a portfolio of bourbon, rye whiskey, American whiskey, vodka, gin, and other distilled products. Its brands include Lux Row Distillers’ Ezra Brooks, Daviess County, and Yellowstone Bourbon, as well as Remus Repeal Reserve.