MGP Ingredients (NASDAQ:MGPI) PT Lowered to $95.00 at Roth Mkm

MGP Ingredients (NASDAQ:MGPI) had its price target reduced by Roth Mkm from $100.00 to $95.00 in a research report released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the stock. StockNews.com raised shares of MGP Ingredients from a sell rating to a hold rating in a research report on Thursday, April 18th. Wedbush restated an outperform rating and issued a $120.00 price target on shares of MGP Ingredients in a research note on Wednesday, April 10th.

MGP Ingredients Price Performance

MGPI stock traded up $0.90 during trading on Thursday, hitting $80.08. The stock had a trading volume of 23,976 shares, compared to its average volume of 205,729. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.51 and a quick ratio of 1.47. The company’s 50-day moving average price is $82.89 and its two-hundred day moving average price is $89.71. MGP Ingredients has a twelve month low of $75.78 and a twelve month high of $124.96. The stock has a market capitalization of $1.76 billion, a P/E ratio of 16.50, a PEG ratio of 1.15 and a beta of 0.76.

MGP Ingredients (NASDAQ:MGPI) last released its earnings results on Thursday, February 22nd. The company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.26. MGP Ingredients had a net margin of 12.72% and a return on equity of 16.03%. The business had revenue of $214.90 million for the quarter, compared to analyst estimates of $206.87 million. During the same period last year, the company posted $1.01 EPS. The business’s revenue was up 12.6% on a year-over-year basis. As a group, research analysts predict that MGP Ingredients will post 6.18 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Thursday, March 14th. MGP Ingredients’s dividend payout ratio is presently 10.00%.

Insider Activity

In related news, VP Erika Lapish purchased 500 shares of MGP Ingredients stock in a transaction dated Monday, February 26th. The stock was bought at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the transaction, the vice president now owns 550 shares in the company, valued at $42,823. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 28.70% of the company’s stock.

Institutional Trading of MGP Ingredients

Several institutional investors have recently made changes to their positions in the stock. Norden Group LLC purchased a new stake in shares of MGP Ingredients during the 1st quarter valued at $261,000. Congress Wealth Management LLC DE boosted its position in MGP Ingredients by 41.9% during the 1st quarter. Congress Wealth Management LLC DE now owns 50,263 shares of the company’s stock worth $4,329,000 after purchasing an additional 14,843 shares during the period. Diversified Trust Co boosted its position in MGP Ingredients by 60.0% during the 1st quarter. Diversified Trust Co now owns 11,600 shares of the company’s stock worth $999,000 after purchasing an additional 4,350 shares during the period. Congress Asset Management Co. MA boosted its position in MGP Ingredients by 21.7% during the 1st quarter. Congress Asset Management Co. MA now owns 387,003 shares of the company’s stock worth $33,333,000 after purchasing an additional 68,950 shares during the period. Finally, NBC Securities Inc. boosted its position in MGP Ingredients by 21.4% during the 1st quarter. NBC Securities Inc. now owns 8,236 shares of the company’s stock worth $719,000 after purchasing an additional 1,451 shares during the period. 77.11% of the stock is owned by hedge funds and other institutional investors.

MGP Ingredients Company Profile

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.