MGP Ingredients, Inc. (NASDAQ:MGPI) Receives $27.75 Consensus Price Target from Brokerages

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) have earned an average rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $27.75.

A number of equities analysts recently weighed in on MGPI shares. Wall Street Zen cut MGP Ingredients from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Zacks Research raised shares of MGP Ingredients from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Weiss Ratings cut shares of MGP Ingredients from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Roth Mkm dropped their target price on shares of MGP Ingredients from $41.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, Wells Fargo & Company reduced their price target on shares of MGP Ingredients from $29.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th.

Insider Transactions at MGP Ingredients

In other news, major shareholder Caroline Lux Kaplan sold 30,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $17.82, for a total value 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 at this link. 31.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MGPI. AQR Capital Management LLC acquired a new stake in MGP Ingredients during the 1st quarter worth about $735,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of MGP Ingredients by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,446 shares of the company’s stock valued at $248,000 after purchasing an additional 390 shares during the period. Millennium Management LLC increased its holdings in shares of MGP Ingredients by 116.6% in the 1st quarter. Millennium Management LLC now owns 359,813 shares of the company’s stock valued at $10,571,000 after purchasing an additional 193,660 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of MGP Ingredients by 10.0% in the first quarter. Goldman Sachs Group Inc. now owns 158,879 shares of the company’s stock worth $4,668,000 after purchasing an additional 14,501 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of MGP Ingredients by 9.4% in the second quarter. JPMorgan Chase & Co. now owns 157,579 shares of the company’s stock worth $4,723,000 after purchasing an additional 13,556 shares in the last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.

MGP Ingredients Price Performance

Shares of NASDAQ:MGPI opened at $16.50 on Tuesday. The company has a market capitalization of $352.61 million, a PE ratio of -1.48 and a beta of 0.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.56 and a current ratio of 2.74. The stock has a fifty day moving average of $18.67 and a 200-day moving average of $21.56. MGP Ingredients has a one year low of $16.01 and a one year high of $33.38.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Wednesday, April 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping 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 business had revenue of $106.43 million for the quarter, compared to analysts’ expectations of $105.32 million. During the same period in the previous year, the firm posted $0.36 EPS. The company’s quarterly revenue was down 12.5% on a year-over-year basis. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. As a group, equities analysts anticipate that MGP Ingredients will post 1.6 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, May 15th. MGP Ingredients’s payout ratio is presently -4.31%.

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.