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

MGP Ingredients (NASDAQ:MGPI) had its price objective decreased by Roth Mkm from $69.00 to $65.00 in a research note released on Monday,Benzinga reports. Roth Mkm currently has a buy rating on the stock.

Other research analysts also recently issued reports about the company. Lake Street Capital downgraded MGP Ingredients from a “buy” rating to a “hold” rating and dropped their target price for the stock from $135.00 to $75.00 in a research note on Friday, October 18th. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Truist Financial reduced their price objective on MGP Ingredients from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Loop Capital set a $75.00 target price on MGP Ingredients in a research note on Friday, October 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $76.67.

MGP Ingredients Trading Up 1.6 %

Shares of MGPI stock opened at $49.07 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. The stock’s 50 day simple moving average is $74.31 and its two-hundred day simple moving average is $77.54. The company has a market cap of $1.08 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 0.76 and a beta of 0.66. MGP Ingredients has a 1 year low of $45.44 and a 1 year high of $102.42.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. The company had revenue of $161.50 million during the quarter, compared to analyst estimates of $161.55 million. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The firm’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. Research analysts predict that MGP Ingredients will post 5.58 earnings per share for the current 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 given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, November 15th. MGP Ingredients’s dividend payout ratio (DPR) is presently 9.98%.

Insider Activity at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 12,092 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $90.65, for a total value of $1,096,139.80. Following the sale, the director now directly owns 54,542 shares of the company’s stock, valued at approximately $4,944,232.30. This trade represents 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 accessible through this hyperlink. 36.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Covestor Ltd increased its stake in MGP Ingredients by 23.3% during the 1st quarter. Covestor Ltd now owns 795 shares of the company’s stock worth $68,000 after buying an additional 150 shares in the last quarter. Texas Permanent School Fund Corp increased its position in shares of MGP Ingredients by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 13,680 shares of the company’s stock worth $1,178,000 after purchasing an additional 177 shares in the last quarter. Farther Finance Advisors LLC raised its stake in MGP Ingredients by 45.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock valued at $50,000 after purchasing an additional 186 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in MGP Ingredients by 2.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the company’s stock valued at $588,000 after purchasing an additional 200 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in MGP Ingredients by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 3,193 shares of the company’s stock worth $275,000 after purchasing an additional 220 shares during the last quarter. Institutional investors and hedge funds own 77.11% of the company’s stock.

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.