MGP Ingredients, Inc. (MGPI) To Go Ex-Dividend on August 14th

MGP Ingredients, Inc. (NASDAQ:MGPI) declared a quarterly dividend on Wednesday, July 29th. Shareholders of record on Friday, August 14th will be given a dividend of 0.12 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, August 14th.

MGP Ingredients has a payout ratio of 17.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect MGP Ingredients to earn $2.06 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 23.3%.

MGP Ingredients Trading Down 6.0%

NASDAQ MGPI opened at $17.74 on Friday. The firm has a market cap of $379.10 million, a P/E ratio of -1.58 and a beta of 0.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.99 and a quick ratio of 0.56. The stock’s 50-day moving average is $17.15 and its 200-day moving average is $19.67. MGP Ingredients has a one year low of $15.72 and a one year high of $31.75.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.23. MGP Ingredients had a positive return on equity of 7.41% and a negative net margin of 48.08%.The business had revenue of $124.36 million during the quarter, compared to analyst estimates of $125.16 million. During the same period in the previous year, the firm earned $0.97 EPS. MGP Ingredients’s quarterly revenue was down 14.5% compared to the same quarter last year. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. Sell-side analysts anticipate that MGP Ingredients will post 1.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings lowered shares of MGP Ingredients from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. TD Cowen increased their price objective on shares of MGP Ingredients from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday. Zacks Research raised shares of MGP Ingredients from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company upped their target price on shares of MGP Ingredients from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MGP Ingredients has a consensus rating of “Hold” and an average target price of $27.25.

About MGP Ingredients

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.