MGP Ingredients (NASDAQ:MGPI) PT Lowered to $92.00 at Roth Mkm

MGP Ingredients (NASDAQ:MGPI) had its price target lowered by Roth Mkm from $95.00 to $92.00 in a research note released on Friday, Benzinga reports. Roth Mkm currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the stock. Wedbush reissued an outperform rating and issued a $120.00 price objective on shares of MGP Ingredients in a research report on Monday, April 29th. StockNews.com downgraded MGP Ingredients from a hold rating to a sell rating in a report on Friday, April 26th.

MGP Ingredients Trading Down 2.5 %

Shares of MGPI traded down $2.03 during trading hours on Friday, hitting $78.59. The stock had a trading volume of 136,870 shares, compared to its average volume of 208,543. The company’s fifty day simple moving average is $81.84 and its 200 day simple moving average is $88.61. MGP Ingredients has a 12-month low of $75.78 and a 12-month high of $124.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.97 and a current ratio of 6.32. The firm has a market cap of $1.73 billion, a P/E ratio of 18.62, a P/E/G ratio of 1.19 and a beta of 0.75.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. MGP Ingredients had a return on equity of 14.78% and a net margin of 11.91%. The company had revenue of $170.56 million for the quarter, compared to the consensus estimate of $170.31 million. During the same period last year, the business posted $1.39 EPS. The company’s quarterly revenue was down 15.1% compared to the same quarter last year. Equities research analysts forecast that MGP Ingredients will post 6.18 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.61%. MGP Ingredients’s dividend payout ratio is currently 11.09%.

Insider Activity

In other news, VP Erika Lapish acquired 500 shares of the business’s stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $77.86 per share, for a total transaction of $38,930.00. Following the acquisition, the vice president now directly owns 550 shares of the company’s stock, valued at approximately $42,823. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 36.20% of the company’s stock.

Hedge Funds Weigh In On MGP Ingredients

Institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC increased its stake in shares of MGP Ingredients by 464.8% in the fourth quarter. Global Retirement Partners LLC now owns 401 shares of the company’s stock worth $37,000 after buying an additional 330 shares during the last quarter. Quest Partners LLC bought a new stake in shares of MGP Ingredients in the 4th quarter worth about $72,000. Bare Financial Services Inc bought a new position in shares of MGP Ingredients during the fourth quarter worth about $106,000. Quantbot Technologies LP grew its stake in MGP Ingredients by 99.9% in the third quarter. Quantbot Technologies LP now owns 1,641 shares of the company’s stock worth $173,000 after purchasing an additional 820 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in MGP Ingredients in the fourth quarter valued at about $190,000. 77.11% of the stock is owned by institutional investors and hedge funds.

About MGP Ingredients

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.