MGP Ingredients, Inc. (MGPI)

Several events impacted MGPI's stock price in the past six months. Julie Francis was appointed as the new CEO and President in July 2025. Q2 and Q3 2025 results showed year-over-year decreases in consolidated sales and Adjusted EBITDA, with a significant non-cash goodwill impairment in the Branded Spirits segment noted in Q3 2025. MGP announced plans to scale back whiskey production in November 2025. Analyst ratings were downgraded, and price targets were lowered by multiple firms. Director Karen Seaberg and Caroline Lux Kaplan sold shares in December and November 2025, respectively. The share price as of January 5, 2026, was $23.98, representing a 37.76% decline from January 6, 2025.

MGP Ingredients' diversified business model, encompassing both distilled spirits and food ingredients, helps to mitigate the impact of market cycles. The Ingredient Solutions segment provides a resilient buffer against fluctuations in the spirits market.

MGP Ingredients, Inc. is a U.S.-based company specializing in the production and supply of distilled spirits, branded spirits, and food ingredients, operating through three primary segments: Distilling Solutions, Branded Spirits, and Ingredient Solutions. The Distilling Solutions segment produces food-grade alcohol, distillery co-products, and offers warehouse services. The Branded Spirits segment boasts a portfolio of high-quality branded spirits, including bourbons, rye whiskeys, gins, Irish whiskey, Irish cream, tequilas, and vodkas. The Ingredient Solutions segment provides a range of specialty wheat-based ingredients and gluten-free textured pea proteins.

MGP Ingredients' headquarters are located in Atchison, Kansas, with distilleries in Atchison, Kansas; Lawrenceburg, Indiana; Lebanon, Kentucky; and Arandas, Mexico. It has bottling plants in St. Louis, Missouri; a facility in Ohio; and Londonderry, Northern Ireland. The company distributes its products across the United States, Canada, Mexico, Japan, Thailand, and the United Kingdom.

MGP Ingredients' brand reputation has been influenced by challenging market conditions and strategic responses. The company faced headwinds from elevated industry-wide barrel whiskey inventories, leading to a decline in brown goods sales and pricing trends. Its premium-plus branded spirits portfolio has continued to outperform the broader category and show positive growth. The Ingredient Solutions segment has also demonstrated sequential improvement in sales and gross margin. The company is actively working to stabilize its brown goods business, reposition its Branded Spirits and Ingredient Solutions segments for growth, and fortify its balance sheet. The appointment of a new CEO in July 2025 signals a commitment to a long-term vision.

MGP Ingredients' ownership is a mix of institutional, individual insider, and public investors. Approximately 389 institutional owners hold a total of 15,810,830 shares, with major institutional shareholders including BlackRock, Inc. and Vanguard Group Inc. Key individual shareholders include Donn S. Lux, Karen Seaberg, and Cloud L. Cray Jr. Institutions hold about 57.4% of the shares, individual insiders hold approximately 21.5%, the general public holds 10.7%, and private companies hold 10.4%.