MGP Ingredients (NASDAQ:MGPI) Releases FY22 Earnings Guidance

MGP Ingredients (NASDAQ:MGPIGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.41-4.65 for the period, compared to the consensus estimate of $4.47. The company issued revenue guidance of $745-765 million, compared to the consensus revenue estimate of $716.68 million. MGP Ingredients also updated its FY 2022 guidance to $4.41-$4.65 EPS.

MGP Ingredients Stock Performance

MGPI stock traded up $2.00 on Friday, hitting $109.03. The company’s stock had a trading volume of 181,671 shares, compared to its average volume of 122,539. The firm has a 50 day moving average of $99.16 and a two-hundred day moving average of $90.48. MGP Ingredients has a 1 year low of $60.43 and a 1 year high of $109.28. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 20.49 and a beta of 1.01. The company has a current ratio of 4.53, a quick ratio of 1.61 and a debt-to-equity ratio of 0.32.

MGP Ingredients (NASDAQ:MGPIGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.27. The company had revenue of $195.00 million during the quarter, compared to the consensus estimate of $173.06 million. MGP Ingredients had a net margin of 16.12% and a return on equity of 16.09%. MGP Ingredients’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 EPS. Equities analysts predict that MGP Ingredients will post 4.41 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, August 19th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, August 18th. This represents a $0.48 dividend on an annualized basis and a yield of 0.44%. MGP Ingredients’s payout ratio is currently 9.02%.

Wall Street Analysts Forecast Growth

Separately, Roth Capital initiated coverage on shares of MGP Ingredients in a research report on Thursday, June 30th. They set a buy rating and a $115.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, MGP Ingredients presently has an average rating of Moderate Buy and an average target price of $103.50.

Insider Activity

In other MGP Ingredients news, VP Stephen J. Glaser sold 1,000 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $101.28, for a total value of $101,280.00. Following the sale, the vice president now owns 20,388 shares of the company’s stock, valued at $2,064,896.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Lori L.S. Mingus sold 1,800 shares of MGP Ingredients stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $100.54, for a total transaction of $180,972.00. Following the completion of the transaction, the director now directly owns 15,924 shares in the company, valued at approximately $1,600,998.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen J. Glaser sold 1,000 shares of MGP Ingredients stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $101.28, for a total value of $101,280.00. Following the transaction, the vice president now owns 20,388 shares of the company’s stock, valued at $2,064,896.64. The disclosure for this sale can be found here. Insiders sold 11,202 shares of company stock worth $1,120,098 in the last 90 days. 36.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in MGP Ingredients by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,793 shares of the company’s stock valued at $924,000 after acquiring an additional 1,331 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of MGP Ingredients by 35.5% during the 1st quarter. Blair William & Co. IL now owns 9,255 shares of the company’s stock worth $792,000 after buying an additional 2,425 shares during the last quarter. Aviva PLC acquired a new stake in shares of MGP Ingredients during the 1st quarter worth $784,000. Graham Capital Management L.P. acquired a new stake in shares of MGP Ingredients during the 1st quarter worth $652,000. Finally, MetLife Investment Management LLC increased its holdings in shares of MGP Ingredients by 54.9% during the 1st quarter. MetLife Investment Management LLC now owns 7,449 shares of the company’s stock worth $638,000 after buying an additional 2,640 shares during the last quarter. 77.38% of the stock is currently owned by institutional investors and hedge funds.

About MGP Ingredients

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MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, branded spirits, and food ingredients. It operates through three segments: Distillery Products; Branded Spirits; and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food-grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.

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Earnings History and Estimates for MGP Ingredients (NASDAQ:MGPI)

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