Key Points
- Major shareholder Caroline Lux Kaplan sold 30,000 shares of MGP Ingredients at an average price of $17.82, totaling $534,600. After the sale, she still owned 500,958 shares, trimming her stake by 5.65%.
- MGP Ingredients reported mixed quarterly results, beating EPS expectations at $0.15 versus $0.04 expected, while revenue came in slightly above estimates at $106.43 million. However, revenue fell 12.5% year over year and net margin remained negative.
- The company declared a quarterly dividend of $0.12 per share, payable May 29, for an annualized yield of 2.6%. Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $27.75.
MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) major shareholder Caroline Lux Kaplan sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $17.82, for a total value of $534,600.00. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
MGP Ingredients Trading Up 1.0%
MGPI opened at $18.46 on Friday. MGP Ingredients, Inc. has a one year low of $16.45 and a one year high of $33.38. The stock has a market capitalization of $394.49 million, a PE ratio of -1.66 and a beta of 0.49. The business's 50 day moving average price is $18.78 and its 200 day moving average price is $21.98. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.56 and a current ratio of 2.74.
MGP Ingredients (NASDAQ:MGPI - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.11. The company had revenue of $106.43 million for 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%.The firm's quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 earnings per share. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. As a group, equities research analysts expect that MGP Ingredients, Inc. will post 1.6 EPS for the current year.
MGP Ingredients Announces Dividend
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 given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.6%. MGP Ingredients's dividend payout ratio is currently -4.31%.
Institutional Investors Weigh In On MGP Ingredients
Hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. boosted its stake in shares of MGP Ingredients by 130.3% during the second quarter. Osaic Holdings Inc. now owns 935 shares of the company's stock worth $28,000 after buying an additional 529 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of MGP Ingredients by 653.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,304 shares of the company's stock worth $32,000 after buying an additional 1,131 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of MGP Ingredients during the fourth quarter worth about $32,000. Quadrant Capital Group LLC boosted its stake in shares of MGP Ingredients by 237.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,830 shares of the company's stock worth $44,000 after buying an additional 1,287 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of MGP Ingredients by 278.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company's stock worth $56,000 after buying an additional 1,386 shares during the period. Institutional investors and hedge funds own 77.11% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently commented on MGPI shares. Wall Street Zen downgraded shares of MGP Ingredients from a "buy" rating to a "hold" rating in a research note on Sunday, February 22nd. Weiss Ratings downgraded shares of MGP Ingredients from a "sell (d)" rating to a "sell (d-)" rating in a research note on Monday, May 4th. TD Cowen lowered their target price on shares of MGP Ingredients from $22.00 to $20.00 and set a "hold" rating for the company in a research note on Thursday, April 30th. Zacks Research upgraded shares of MGP Ingredients from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Finally, Roth Mkm lowered their target price on shares of MGP Ingredients from $41.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, MGP Ingredients presently has a consensus rating of "Hold" and an average price target of $27.75.
View Our Latest Stock Analysis on MGPI
MGP Ingredients Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
