Key Points
- Major shareholder Caroline Lux Kaplan sold 30,000 shares on Nov. 18 at an average price of $23.85 for about $715,500, reducing her stake by 5.08% to 560,958 shares (worth roughly $13.38M).
- MGP reported quarterly EPS of $0.85 (vs. $0.62 estimate) but revenue fell 18.9% year-over-year to $130.91M; the company set FY2025 guidance of 2.60–2.75 EPS and has a market cap of about $479M with a negative P/E of -33.6.
- The board declared a quarterly dividend of $0.12 (annualized $0.48) for a ~2.1% yield (ex-dividend Nov. 14), while analysts have a consensus "Moderate Buy" rating and an average price target of $40.
MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) major shareholder Caroline Lux Kaplan sold 30,000 shares of MGP Ingredients stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $23.85, for a total value of $715,500.00. Following the sale, the insider directly owned 560,958 shares in the company, valued at $13,378,848.30. This trade represents a 5.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
MGP Ingredients Trading Down 0.8%
MGPI stock opened at $22.51 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.78 and a quick ratio of 0.79. MGP Ingredients, Inc. has a 1-year low of $22.40 and a 1-year high of $48.44. The business has a 50 day simple moving average of $24.94 and a two-hundred day simple moving average of $28.32. The company has a market capitalization of $479.22 million, a price-to-earnings ratio of -33.59 and a beta of 0.39.
MGP Ingredients (NASDAQ:MGPI - Get Free Report) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.23. MGP Ingredients had a negative net margin of 2.56% and a positive return on equity of 9.65%. 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 posted $1.29 earnings per share. The company's revenue for the quarter 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. Research analysts anticipate that MGP Ingredients, Inc. will post 5.56 EPS for the current fiscal year.
MGP Ingredients Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 14th. MGP Ingredients's dividend payout ratio is -71.64%.
Hedge Funds Weigh In On MGP Ingredients
Several large investors have recently modified their holdings of MGPI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in MGP Ingredients by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,446 shares of the company's stock valued at $248,000 after buying an additional 390 shares during the period. Illumine Investment Management LLC raised its stake in shares of MGP Ingredients by 2.3% in the third quarter. Illumine Investment Management LLC now owns 18,903 shares of the company's stock valued at $457,000 after acquiring an additional 433 shares during the period. Aigen Investment Management LP lifted its holdings in shares of MGP Ingredients by 6.8% in the 1st quarter. Aigen Investment Management LP now owns 6,900 shares of the company's stock worth $203,000 after acquiring an additional 440 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of MGP Ingredients by 130.3% during the 2nd quarter. Osaic Holdings Inc. now owns 935 shares of the company's stock worth $28,000 after purchasing an additional 529 shares during the period. Finally, Mairs & Power Inc. grew its holdings in MGP Ingredients by 0.4% during the 3rd quarter. Mairs & Power Inc. now owns 176,393 shares of the company's stock valued at $4,267,000 after purchasing an additional 619 shares during the last quarter. Institutional investors own 77.11% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on MGPI. TD Cowen reduced their target price on MGP Ingredients from $30.00 to $27.00 and set a "hold" rating on the stock in a report on Thursday, October 30th. Weiss Ratings restated a "sell (d)" rating on shares of MGP Ingredients in a report on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their price objective on MGP Ingredients from $38.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.00.
Check Out Our Latest Report on MGPI
MGP Ingredients Company Profile
(
Get Free Report)
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.
Further Reading
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