MGP Ingredients (NASDAQ:MGPI) Major Shareholder Caroline Lux Kaplan Sells 30,000 Shares

MGP Ingredients, Inc. (NASDAQ:MGPI) major shareholder Caroline Lux Kaplan sold 30,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $17.82, for a total value of $534,600.00. Following the completion of the transaction, the insider directly owned 500,958 shares in the company, valued at approximately $8,927,071.56. This trade represents a 5.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

MGP Ingredients Stock Up 1.0%

Shares of NASDAQ:MGPI opened at $18.46 on Friday. MGP Ingredients, Inc. has a 52-week low of $16.45 and a 52-week high of $33.38. The stock has a market cap of $394.49 million, a P/E ratio of -1.66 and a beta of 0.49. The business’s 50 day moving average is $18.78 and its 200 day moving average is $21.98. The company has a quick ratio of 0.56, a current ratio of 2.74 and a debt-to-equity ratio of 0.41.

MGP Ingredients (NASDAQ:MGPI) last announced its earnings results on Wednesday, April 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.11. The business had revenue of $106.43 million for the quarter, compared to analysts’ expectations of $105.32 million. MGP Ingredients had a positive return on equity of 7.48% and a negative net margin of 45.70%.The business’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. Sell-side analysts predict that MGP Ingredients, Inc. will post 1.6 EPS for the current year.

MGP Ingredients Announces Dividend

The firm 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 $0.12 dividend. 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 (DPR) is presently -4.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MGPI shares. Zacks Research upgraded MGP Ingredients from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Wall Street Zen lowered MGP Ingredients from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. Weiss Ratings lowered MGP Ingredients from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. TD Cowen dropped their target price on MGP Ingredients from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Thursday, April 30th. Finally, Wells Fargo & Company dropped their target price on MGP Ingredients from $29.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.75.

Hedge Funds Weigh In On MGP Ingredients

Several institutional investors and hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. boosted its holdings 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 last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of MGP Ingredients by 653.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,304 shares of the company’s stock worth $32,000 after purchasing an additional 1,131 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of MGP Ingredients during the 4th quarter worth approximately $32,000. Quadrant Capital Group LLC boosted its holdings in shares of MGP Ingredients by 237.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,830 shares of the company’s stock worth $44,000 after purchasing an additional 1,287 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of MGP Ingredients by 278.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock worth $56,000 after purchasing an additional 1,386 shares during the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Company Profile

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.