MGP Ingredients, Inc. (NASDAQ:MGPI) Plans Quarterly Dividend of $0.12

MGP Ingredients, Inc. (NASDAQ:MGPI) announced a quarterly dividend on Wednesday, February 25th. Investors of record on Friday, March 13th will be paid a dividend of 0.12 per share on Friday, March 27th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, March 13th.

MGP Ingredients has increased its dividend by an average of 0.0%annually over the last three years. MGP Ingredients has a dividend payout ratio of 17.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect MGP Ingredients to earn $3.41 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 14.1%.

MGP Ingredients Trading Down 21.2%

Shares of MGPI stock traded down $5.47 during mid-day trading on Wednesday, reaching $20.34. 1,283,676 shares of the stock traded hands, compared to its average volume of 256,734. MGP Ingredients has a 1-year low of $19.67 and a 1-year high of $35.49. The company has a quick ratio of 0.69, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. The company has a market cap of $433.04 million, a price-to-earnings ratio of -30.36 and a beta of 0.42. The stock’s fifty day simple moving average is $24.94 and its two-hundred day simple moving average is $25.50.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data 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. The company had revenue of $138.32 million during the quarter, compared to the consensus estimate of $132.84 million. MGP Ingredients had a positive return on equity of 9.65% and a negative net margin of 2.56%.The firm’s revenue was down 23.5% compared to the same quarter last year. During the same period last year, the company earned $1.57 earnings per share. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. On average, research analysts anticipate that MGP Ingredients will post 5.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of MGP Ingredients from $33.00 to $29.00 and set an “overweight” rating on the stock in a report on Monday, January 5th. Weiss Ratings restated a “sell (d)” rating on shares of MGP Ingredients in a report on Thursday, January 22nd. Zacks Research downgraded MGP Ingredients from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Wall Street Zen downgraded MGP Ingredients from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, TD Cowen reduced their price objective on shares of MGP Ingredients from $27.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.60.

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.