MGP Ingredients, Inc. (NASDAQ:MGPI) Receives $40.00 Average PT from Analysts

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) have earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $40.00.

MGPI has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of MGP Ingredients in a research report on Wednesday, October 8th. Wells Fargo & Company dropped their target price on shares of MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, TD Cowen reduced their price target on shares of MGP Ingredients from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th.

Institutional Trading of MGP Ingredients

Institutional investors and hedge funds have recently modified their holdings of the business. Deutsche Bank AG lifted its stake in shares of MGP Ingredients by 1,564.2% in the 1st 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in MGP Ingredients by 28.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 168,534 shares of the company’s stock valued at $4,952,000 after purchasing an additional 36,951 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of MGP Ingredients by 24.9% during the first quarter. Rhumbline Advisers now owns 51,780 shares of the company’s stock valued at $1,521,000 after purchasing an additional 10,316 shares in the last quarter. Blair William & Co. IL bought a new stake in shares of MGP Ingredients during the first quarter worth about $332,000. Finally, Principal Financial Group Inc. increased its stake in shares of MGP Ingredients by 2.2% in the first quarter. Principal Financial Group Inc. now owns 70,133 shares of the company’s stock valued at $2,061,000 after buying an additional 1,499 shares during the period. 77.11% of the stock is currently owned by institutional investors.

MGP Ingredients Stock Down 2.6%

MGP Ingredients stock opened at $23.96 on Friday. The stock has a market cap of $510.20 million, a P/E ratio of -35.76 and a beta of 0.39. The company’s 50-day moving average price is $25.15 and its two-hundred day moving average price is $28.40. The company has a quick ratio of 0.79, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. MGP Ingredients has a twelve month low of $23.28 and a twelve month high of $48.55.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.23. MGP Ingredients had a positive return on equity of 9.65% and a negative net margin of 2.56%.The firm had revenue of $130.91 million for the quarter, compared to analysts’ expectations of $128.33 million. During the same quarter last year, the business earned $1.29 EPS. The company’s quarterly revenue was down 18.9% compared to the same quarter last year. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. As a group, analysts expect that MGP Ingredients will post 5.56 EPS for the current year.

MGP Ingredients Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, November 14th. MGP Ingredients’s dividend payout ratio (DPR) is currently -71.64%.

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.