MGP Ingredients (NASDAQ:MGPI) Given New $21.00 Price Target at Wells Fargo & Company

MGP Ingredients (NASDAQ:MGPI) had its target price lowered by Wells Fargo & Company from $24.00 to $21.00 in a report issued on Wednesday, Marketbeat Ratings reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 26.28% from the company’s previous close.

MGPI has been the topic of several other reports. TD Cowen cut their price target on shares of MGP Ingredients from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, June 26th. Zacks Research raised MGP Ingredients from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings cut MGP Ingredients from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, MGP Ingredients presently has a consensus rating of “Hold” and an average price target of $26.50.

MGP Ingredients Price Performance

Shares of NASDAQ MGPI opened at $16.63 on Wednesday. The stock’s 50-day simple moving average is $17.56 and its 200-day simple moving average is $20.46. The firm has a market capitalization of $355.38 million, a PE ratio of -1.49 and a beta of 0.46. MGP Ingredients has a fifty-two week low of $15.72 and a fifty-two week high of $32.60. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.56 and a current ratio of 2.74.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. MGP Ingredients had a positive return on equity of 7.48% and a negative net margin of 45.70%.The firm had revenue of $106.43 million during the quarter, compared to the consensus estimate of $105.32 million. During the same period in the prior year, the company posted $0.36 earnings per share. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. As a group, equities research analysts forecast that MGP Ingredients will post 1.6 EPS for the current fiscal year.

Insider Buying and Selling at MGP Ingredients

In other news, major shareholder Caroline Lux Kaplan sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $17.82, for a total transaction of $534,600.00. Following the completion of the sale, the insider owned 500,958 shares in the company, valued at $8,927,071.56. This represents a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 31.70% of the company’s stock.

Institutional Trading of MGP Ingredients

Hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. raised its holdings in MGP Ingredients by 130.3% during the second quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 529 shares in the last quarter. Nisa Investment Advisors LLC increased its position in MGP Ingredients by 653.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,304 shares of the company’s stock worth $32,000 after purchasing an additional 1,131 shares during the period. Global Retirement Partners LLC purchased a new position in shares of MGP Ingredients during the 4th quarter worth approximately $32,000. Quadrant Capital Group LLC lifted its holdings in shares of MGP Ingredients by 237.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,830 shares of the company’s stock valued at $44,000 after buying an additional 1,287 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of MGP Ingredients by 278.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock valued at $56,000 after buying an additional 1,386 shares in the last quarter. Institutional investors and hedge funds 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.