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

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) have been assigned an average rating of “Hold” from the six analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $27.25.

Several brokerages have recently issued reports on MGPI. TD Cowen increased their target price on MGP Ingredients from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MGP Ingredients in a research note on Friday, July 31st. Finally, Wells Fargo & Company increased their price objective on MGP Ingredients from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th.

Insider Activity

In related news, insider Paul Lux sold 33,000 shares of MGP Ingredients stock in a transaction dated 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 of the company’s stock, valued at $9,776,134.08. This trade represents a 5.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 31.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MGP Ingredients

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc bought a new stake in MGP Ingredients in the 2nd quarter valued at $28,000. Quantinno Capital Management LP grew its position in shares of MGP Ingredients by 9.6% during the first quarter. Quantinno Capital Management LP now owns 25,340 shares of the company’s stock valued at $466,000 after purchasing an additional 2,215 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of MGP Ingredients during the second quarter valued at about $55,000. State of Wyoming increased its holdings in shares of MGP Ingredients by 37.0% in the fourth quarter. State of Wyoming now owns 14,205 shares of the company’s stock worth $345,000 after purchasing an additional 3,839 shares during the last quarter. Finally, Villanova Investment Management Co LLC increased its holdings in shares of MGP Ingredients by 7.2% in the fourth quarter. Villanova Investment Management Co LLC now owns 78,583 shares of the company’s stock worth $1,910,000 after purchasing an additional 5,258 shares during the last quarter. Institutional investors own 77.11% of the company’s stock.

MGP Ingredients Trading Down 0.3%

Shares of MGPI opened at $14.36 on Thursday. MGP Ingredients has a 1-year low of $14.23 and a 1-year high of $28.35. The company has a current ratio of 6.99, a quick ratio of 1.65 and a debt-to-equity ratio of 0.61. The firm’s 50-day moving average price is $17.17 and its 200-day moving average price is $17.73. The firm has a market capitalization of $307.45 million, a price-to-earnings ratio of -1.28 and a beta of 0.45.

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

MGP Ingredients Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.3%. MGP Ingredients’s dividend payout ratio is currently -4.26%.

About MGP Ingredients

MGP Ingredients, Inc is a food, beverage and spirits company headquartered in Atchison, Kansas. Founded in 1941 as Midwest Grain Products, the company has developed from a grain-processing and distilling business into a diversified producer of specialty ingredients, distilled spirits and branded alcoholic beverages.

MGP’s Ingredient Solutions segment produces specialty wheat proteins and starches used in food applications, including meat alternatives, baked goods, snacks and other processed foods.