FY2024 EPS Forecast for MGP Ingredients Decreased by Analyst

MGP Ingredients, Inc. (NASDAQ:MGPI) – Research analysts at Roth Capital reduced their FY2024 EPS estimates for shares of MGP Ingredients in a report issued on Monday, December 23rd. Roth Capital analyst S. Mcgowan now forecasts that the company will earn $5.54 per share for the year, down from their prior estimate of $5.55. The consensus estimate for MGP Ingredients’ current full-year earnings is $5.57 per share. Roth Capital also issued estimates for MGP Ingredients’ Q1 2026 earnings at $0.82 EPS.

Several other equities analysts have also recently commented on the company. Loop Capital set a $75.00 target price on MGP Ingredients in a research note on Friday, October 18th. TD Cowen downgraded shares of MGP Ingredients from a “buy” rating to a “hold” rating and reduced their price objective for the company from $66.00 to $50.00 in a research note on Wednesday, November 6th. StockNews.com raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Roth Mkm reduced their price target on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Truist Financial lowered their price objective on MGP Ingredients from $85.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, MGP Ingredients has an average rating of “Moderate Buy” and an average target price of $75.83.

MGP Ingredients Price Performance

MGPI opened at $39.85 on Tuesday. MGP Ingredients has a twelve month low of $38.65 and a twelve month high of $102.42. The company has a current ratio of 6.46, a quick ratio of 1.94 and a debt-to-equity ratio of 0.31. The firm has a market cap of $874.83 million, a price-to-earnings ratio of 8.28, a PEG ratio of 0.74 and a beta of 0.63. The company has a fifty day simple moving average of $49.71 and a 200 day simple moving average of $69.93.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. The firm had revenue of $161.50 million during the quarter, compared to analysts’ expectations of $161.55 million. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. MGP Ingredients’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 EPS.

Institutional Trading of MGP Ingredients

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC increased its position in shares of MGP Ingredients by 14.2% in the third quarter. FMR LLC now owns 1,102,985 shares of the company’s stock worth $91,824,000 after acquiring an additional 137,292 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of MGP Ingredients by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 790,339 shares of the company’s stock worth $58,801,000 after buying an additional 68,278 shares during the period. State Street Corp grew its holdings in shares of MGP Ingredients by 22.4% during the third quarter. State Street Corp now owns 717,675 shares of the company’s stock valued at $59,746,000 after buying an additional 131,542 shares in the last quarter. Ariel Investments LLC raised its position in MGP Ingredients by 92.7% during the second quarter. Ariel Investments LLC now owns 515,796 shares of the company’s stock valued at $38,375,000 after buying an additional 248,076 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in MGP Ingredients by 67.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 495,622 shares of the company’s stock worth $41,261,000 after acquiring an additional 199,550 shares in the last quarter. Institutional investors and hedge funds own 77.11% of the company’s stock.

Insider Buying and Selling at MGP Ingredients

In other news, Director Lori L.S. Mingus sold 7,050 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $46.03, for a total transaction of $324,511.50. Following the sale, the director now directly owns 37,373 shares of the company’s stock, valued at $1,720,279.19. The trade was a 15.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 36.20% of the stock is owned by corporate insiders.

MGP Ingredients Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, November 15th. MGP Ingredients’s dividend payout ratio is presently 9.98%.

MGP Ingredients Company Profile

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.