Roth Mkm Trims MGP Ingredients (NASDAQ:MGPI) Target Price to $92.00

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

MGPI has been the subject of a number of other reports. StockNews.com downgraded shares of MGP Ingredients from a hold rating to a sell rating in a research note on Friday, April 26th. Wedbush reissued an outperform rating and set a $120.00 price target on shares of MGP Ingredients in a research note on Monday, April 29th.

MGP Ingredients Price Performance

Shares of MGPI stock opened at $78.59 on Friday. MGP Ingredients has a 1 year low of $75.78 and a 1 year high of $124.96. The firm’s 50 day moving average is $81.85 and its 200-day moving average is $88.46. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 1.19 and a beta of 0.75. The company has a current ratio of 6.32, a quick ratio of 1.97 and a debt-to-equity ratio of 0.34.

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

MGP Ingredients Announces Dividend

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

Insider Buying and Selling at MGP Ingredients

In other news, VP Erika Lapish bought 500 shares of the stock in a transaction on Monday, February 26th. The stock was purchased at an average price of $77.86 per share, with a total value of $38,930.00. Following the completion of the purchase, the vice president now owns 550 shares of the company’s stock, valued at $42,823. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 36.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mutual of America Capital Management LLC boosted its holdings in shares of MGP Ingredients by 594.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 19,030 shares of the company’s stock valued at $1,875,000 after buying an additional 16,290 shares during the period. Tudor Investment Corp Et Al acquired a new position in shares of MGP Ingredients in the third quarter valued at approximately $2,985,000. Victory Capital Management Inc. boosted its holdings in MGP Ingredients by 58.0% during the third quarter. Victory Capital Management Inc. now owns 217,403 shares of the company’s stock worth $22,932,000 after purchasing an additional 79,791 shares during the last quarter. KLR Investment Advisors LLC boosted its holdings in MGP Ingredients by 5.8% during the third 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 last quarter. Finally, Peterson Wealth Services acquired a new position in MGP Ingredients during the fourth quarter worth $221,000. 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.