MGP Ingredients (NASDAQ:MGPI) Given New $95.00 Price Target at Roth Mkm

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

A number of other research firms also recently commented on MGPI. StockNews.com upgraded shares of MGP Ingredients from a sell rating to a hold rating in a research note on Thursday, April 18th. Wedbush reaffirmed an outperform rating and set a $120.00 price target on shares of MGP Ingredients in a research report on Wednesday, April 10th.

MGP Ingredients Stock Up 1.1 %

Shares of MGP Ingredients stock traded up $0.90 during midday trading on Thursday, hitting $80.08. The company’s stock had a trading volume of 23,976 shares, compared to its average volume of 205,729. The firm 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. The stock has a 50-day simple moving average of $82.89 and a 200-day simple moving average of $89.71. The company has a quick ratio of 1.47, a current ratio of 4.51 and a debt-to-equity ratio of 0.33. MGP Ingredients has a 1-year low of $75.78 and a 1-year high of $124.96.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly 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. The company had revenue of $214.90 million during the quarter, compared to analysts’ expectations of $206.87 million. MGP Ingredients had a return on equity of 16.03% and a net margin of 12.72%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. As a group, sell-side analysts expect that MGP Ingredients will post 6.18 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.12 dividend. This represents a $0.48 annualized dividend 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 other MGP Ingredients news, VP Erika Lapish purchased 500 shares of MGP Ingredients stock in a transaction on Monday, February 26th. The stock was bought at an average cost of $77.86 per share, with a total value of $38,930.00. Following the transaction, the vice president now owns 550 shares of the company’s stock, valued at approximately $42,823. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 28.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MGPI. Mariner LLC lifted its holdings in shares of MGP Ingredients by 0.3% during the third quarter. Mariner LLC now owns 54,569 shares of the company’s stock worth $5,756,000 after purchasing an additional 142 shares during the period. KLR Investment Advisors LLC grew its holdings in shares of MGP Ingredients by 5.8% during the 3rd quarter. KLR Investment Advisors LLC now owns 2,911 shares of the company’s stock worth $282,000 after purchasing an additional 159 shares during the period. Cerity Partners LLC grew its holdings in shares of MGP Ingredients by 9.3% during the 4th quarter. Cerity Partners LLC now owns 2,186 shares of the company’s stock worth $215,000 after purchasing an additional 186 shares during the period. Illinois Municipal Retirement Fund grew its holdings in shares of MGP Ingredients by 2.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 9,366 shares of the company’s stock worth $923,000 after purchasing an additional 206 shares during the period. Finally, Assetmark Inc. lifted its position in MGP Ingredients by 3.0% during the 3rd quarter. Assetmark Inc. now owns 8,662 shares of the company’s stock worth $914,000 after acquiring an additional 254 shares in the last quarter. 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.