Roth Mkm Cuts MGP Ingredients (NASDAQ:MGPI) Price Target to $95.00

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

A number of other research firms have also weighed in on MGPI. StockNews.com raised shares of MGP Ingredients from a sell rating to a hold rating in a research note on Thursday, April 18th. Wedbush reissued an outperform rating and issued a $120.00 target price on shares of MGP Ingredients in a research note on Wednesday, April 10th.

MGP Ingredients Trading Up 1.7 %

Shares of MGP Ingredients stock opened at $80.54 on Thursday. The company has a current ratio of 4.51, a quick ratio of 1.47 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average price is $82.46 and its 200 day moving average price is $89.49. MGP Ingredients has a twelve month low of $75.78 and a twelve month high of $124.96. The firm has a market capitalization of $1.77 billion, a PE ratio of 16.78, a P/E/G ratio of 1.19 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. On average, sell-side analysts predict that MGP Ingredients will post 6.18 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Thursday, March 14th. MGP Ingredients’s payout ratio is presently 10.00%.

Insider Activity

In other news, VP Erika Lapish purchased 500 shares of MGP Ingredients stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of $77.86 per share, with a total value of $38,930.00. Following the transaction, the vice president now owns 550 shares in the company, valued at $42,823. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 28.70% of the company’s stock.

Institutional Trading of MGP Ingredients

Institutional investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp Et Al acquired a new stake in MGP Ingredients in the 3rd quarter valued at approximately $2,985,000. Victory Capital Management Inc. increased its holdings in MGP Ingredients by 58.0% in the 3rd quarter. Victory Capital Management Inc. now owns 217,403 shares of the company’s stock valued at $22,932,000 after purchasing an additional 79,791 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in MGP Ingredients by 594.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 19,030 shares of the company’s stock valued at $1,875,000 after purchasing an additional 16,290 shares during the last quarter. KLR Investment Advisors LLC increased its holdings in MGP Ingredients by 5.8% in the 3rd quarter. KLR Investment Advisors LLC now owns 2,911 shares of the company’s stock valued at $282,000 after purchasing an additional 159 shares during the last quarter. Finally, Peterson Wealth Services acquired a new stake in MGP Ingredients in the 4th quarter valued at approximately $221,000. Institutional investors and hedge funds own 77.11% of the company’s stock.

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.