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

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) have been given a consensus rating of “Hold” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $27.75.

MGPI has been the subject of several recent research reports. Zacks Research upgraded MGP Ingredients from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Benchmark assumed coverage on MGP Ingredients in a research report on Thursday, January 22nd. They issued a “buy” rating and a $35.00 price target for the company. TD Cowen cut their target price on MGP Ingredients from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Weiss Ratings lowered MGP Ingredients from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday. Finally, Roth Mkm decreased their price objective on MGP Ingredients from $41.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 26th.

MGP Ingredients Price Performance

Shares of NASDAQ MGPI opened at $19.09 on Friday. The stock has a fifty day simple moving average of $18.87 and a two-hundred day simple moving average of $22.64. MGP Ingredients has a 1-year low of $16.45 and a 1-year high of $34.99. The firm has a market cap of $407.95 million, a price-to-earnings ratio of -1.71 and a beta of 0.49. The company has a current ratio of 2.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.41.

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

MGP Ingredients Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a $0.12 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.48 annualized dividend and a dividend yield of 2.5%. MGP Ingredients’s payout ratio is currently -4.31%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MGPI. Federated Hermes Inc. increased its holdings in shares of MGP Ingredients by 45.7% in the fourth quarter. Federated Hermes Inc. now owns 1,437,836 shares of the company’s stock worth $34,939,000 after buying an additional 450,713 shares during the period. Tieton Capital Management LLC purchased a new position in shares of MGP Ingredients in the fourth quarter worth about $5,998,000. Dana Investment Advisors Inc. purchased a new position in shares of MGP Ingredients in the fourth quarter worth about $5,348,000. Clark Capital Management Group Inc. purchased a new position in shares of MGP Ingredients in the fourth quarter worth about $4,896,000. Finally, Millennium Management LLC increased its holdings in shares of MGP Ingredients by 116.6% in the first quarter. Millennium Management LLC now owns 359,813 shares of the company’s stock worth $10,571,000 after buying an additional 193,660 shares during the period. Hedge funds and other institutional investors own 77.11% of the company’s stock.

About MGP Ingredients

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.