Roth Mkm Lowers MGP Ingredients (NASDAQ:MGPI) Price Target to $65.00

MGP Ingredients (NASDAQ:MGPI) had its target price lowered by Roth Mkm from $69.00 to $65.00 in a report released on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

MGPI has been the topic of a number of other research reports. Lake Street Capital lowered MGP Ingredients from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $135.00 to $75.00 in a research note on Friday, October 18th. Truist Financial decreased their price objective on shares of MGP Ingredients from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 1st. StockNews.com raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Loop Capital set a $75.00 price target on shares of MGP Ingredients in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.67.

MGP Ingredients Stock Up 2.9 %

MGPI opened at $48.29 on Monday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 0.76 and a beta of 0.66. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.94 and a current ratio of 6.46. The firm’s 50-day simple moving average is $75.14 and its 200-day simple moving average is $77.74. MGP Ingredients has a twelve month low of $45.44 and a twelve month high of $102.42.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate 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 net margin of 14.44% and a return on equity of 14.39%. The company’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 earnings per share. Equities research analysts anticipate that MGP Ingredients will post 5.58 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, November 15th. MGP Ingredients’s dividend payout ratio (DPR) is presently 9.98%.

Insiders Place Their Bets

In related news, Director Karen Seaberg sold 1,109 shares of MGP Ingredients stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $90.14, for a total transaction of $99,965.26. Following the completion of the sale, the director now directly owns 134,969 shares of the company’s stock, valued at $12,166,105.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 36.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MGPI. CWM LLC raised its holdings in MGP Ingredients by 477.9% in the second quarter. CWM LLC now owns 393 shares of the company’s stock worth $29,000 after purchasing an additional 325 shares during the period. Isthmus Partners LLC raised its stake in MGP Ingredients by 2.1% during the 2nd quarter. Isthmus Partners LLC now owns 41,427 shares of the company’s stock worth $31,000 after buying an additional 860 shares during the period. Innealta Capital LLC bought a new position in MGP Ingredients during the second quarter worth about $42,000. LRI Investments LLC acquired a new position in MGP Ingredients in the first quarter valued at about $43,000. Finally, Farther Finance Advisors LLC grew its stake in MGP Ingredients by 45.3% in the third quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock valued at $50,000 after acquiring an additional 186 shares during the period. 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.