Karen Seaberg Sells 451 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) Stock

MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg sold 451 shares of MGP Ingredients stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $45.85, for a total value of $20,678.35. Following the sale, the director now directly owns 119,105 shares in the company, valued at $5,460,964.25. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Karen Seaberg also recently made the following trade(s):

• On Wednesday, September 4th, Karen Seaberg sold 1,109 shares of MGP Ingredients stock. The shares were sold at an average price of $90.14, for a total transaction of $99,965.26.

MGP Ingredients Stock Performance

Shares of MGP Ingredients stock opened at $46.28 on Friday. The company has a market cap of $1.02 billion, a P/E ratio of 9.62, a PEG ratio of 0.75 and a beta of 0.66. The company has a current ratio of 6.46, a quick ratio of 1.94 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $63.05 and a two-hundred day moving average price of $74.16. MGP Ingredients, Inc. has a 1-year low of $43.48 and a 1-year high of $102.42.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. The firm had revenue of $161.50 million for the quarter, compared to analysts’ expectations of $161.55 million. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. The company’s revenue for the quarter was down 23.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.34 EPS. As a group, analysts anticipate that MGP Ingredients, Inc. will post 5.57 EPS for the current year.

MGP Ingredients Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.48 annualized dividend and a dividend yield of 1.04%. MGP Ingredients’s dividend payout ratio is currently 9.98%.

Institutional Trading of MGP Ingredients

Several large investors have recently made changes to their positions in MGPI. Natixis Advisors LLC raised its stake in MGP Ingredients by 107.9% during the 2nd quarter. Natixis Advisors LLC now owns 25,686 shares of the company’s stock worth $1,911,000 after buying an additional 13,332 shares during the period. ZWJ Investment Counsel Inc. grew its stake in MGP Ingredients by 2.5% in the third quarter. ZWJ Investment Counsel Inc. now owns 293,580 shares of the company’s stock valued at $24,440,000 after acquiring an additional 7,042 shares during the period. GSA Capital Partners LLP bought a new stake in shares of MGP Ingredients during the third quarter valued at approximately $1,010,000. Envestnet Asset Management Inc. raised its position in shares of MGP Ingredients by 20.3% during the second quarter. Envestnet Asset Management Inc. now owns 113,672 shares of the company’s stock worth $8,457,000 after purchasing an additional 19,203 shares during the period. Finally, Earnest Partners LLC lifted its holdings in shares of MGP Ingredients by 16.0% in the 2nd quarter. Earnest Partners LLC now owns 109,226 shares of the company’s stock worth $8,126,000 after purchasing an additional 15,090 shares in the last quarter. 77.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MGPI has been the subject of several recent research reports. Loop Capital set a $75.00 price target on shares of MGP Ingredients in a research report on Friday, October 18th. Roth Mkm decreased their price objective on MGP Ingredients from $69.00 to $65.00 and set a “buy” rating for the company in a report on Monday, November 4th. TD Cowen downgraded MGP Ingredients from a “buy” rating to a “hold” rating and cut their target price for the stock from $66.00 to $50.00 in a report on Wednesday, November 6th. Lake Street Capital cut MGP Ingredients from a “buy” rating to a “hold” rating and decreased their price target for the company from $135.00 to $75.00 in a research note on Friday, October 18th. Finally, StockNews.com upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $76.67.

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.