MGP Ingredients, Inc. (NASDAQ:MGPI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) have earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $49.6667.

Separately, Wells Fargo & Company dropped their target price on shares of MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGPI. Federated Hermes Inc. increased its stake in shares of MGP Ingredients by 183.3% in the second quarter. Federated Hermes Inc. now owns 743,214 shares of the company’s stock worth $22,274,000 after purchasing an additional 480,885 shares in the last quarter. Deutsche Bank AG grew its stake in MGP Ingredients by 1,564.2% during the first quarter. Deutsche Bank AG now owns 214,060 shares of the company’s stock valued at $6,289,000 after acquiring an additional 201,197 shares in the last quarter. Millennium Management LLC grew its stake in MGP Ingredients by 116.6% during the first quarter. Millennium Management LLC now owns 359,813 shares of the company’s stock valued at $10,571,000 after acquiring an additional 193,660 shares in the last quarter. Ariel Investments LLC grew its stake in MGP Ingredients by 14.9% during the second quarter. Ariel Investments LLC now owns 719,144 shares of the company’s stock valued at $21,553,000 after acquiring an additional 93,086 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in MGP Ingredients by 122.4% during the second quarter. Canada Pension Plan Investment Board now owns 143,700 shares of the company’s stock valued at $4,307,000 after purchasing an additional 79,100 shares during the last quarter. Institutional investors own 77.11% of the company’s stock.

MGP Ingredients Price Performance

Shares of MGPI opened at $24.54 on Thursday. The stock has a market cap of $522.46 million, a PE ratio of -79.16 and a beta of 0.37. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.79 and a current ratio of 2.91. MGP Ingredients has a fifty-two week low of $23.80 and a fifty-two week high of $84.10. The firm’s 50-day simple moving average is $28.21 and its two-hundred day simple moving average is $29.41.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.33. The business had revenue of $145.49 million for the quarter, compared to analysts’ expectations of $138.70 million. MGP Ingredients had a negative net margin of 1.08% and a positive return on equity of 10.66%. The business’s revenue was down 23.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.71 earnings per share. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. Analysts anticipate that MGP Ingredients will post 5.56 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.12 per share. The ex-dividend date was Friday, August 15th. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. MGP Ingredients’s dividend payout ratio is -154.84%.

About MGP Ingredients

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.