Shares of MGP Ingredients, Inc. (NASDAQ:MGPI – Get Rating) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $117.83.
MGPI has been the subject of a number of research analyst reports. Wedbush initiated coverage on MGP Ingredients in a report on Monday, October 10th. They issued an “outperform” rating and a $125.00 target price for the company. StockNews.com assumed coverage on MGP Ingredients in a report on Wednesday, October 12th. They set a “hold” rating for the company. Wells Fargo & Company boosted their price objective on MGP Ingredients from $126.00 to $128.00 and gave the company an “overweight” rating in a report on Friday, November 4th. Finally, Lake Street Capital boosted their price objective on MGP Ingredients from $125.00 to $140.00 in a report on Friday, November 4th.
Insiders Place Their Bets
In other MGP Ingredients news, Director Karen Seaberg sold 4,472 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $106.38, for a total value of $475,731.36. Following the transaction, the director now owns 61,067 shares of the company’s stock, valued at $6,496,307.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Lori L.S. Mingus sold 1,745 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $114.96, for a total transaction of $200,605.20. Following the transaction, the director now owns 14,179 shares of the company’s stock, valued at approximately $1,630,017.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Seaberg sold 4,472 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $106.38, for a total value of $475,731.36. Following the transaction, the director now directly owns 61,067 shares in the company, valued at approximately $6,496,307.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,655 shares of company stock valued at $723,794. Insiders own 36.70% of the company’s stock.
Institutional Inflows and Outflows
MGP Ingredients Trading Up 0.6 %
Shares of MGPI stock opened at $122.83 on Wednesday. The company has a market cap of $2.70 billion, a P/E ratio of 23.18 and a beta of 0.93. The stock has a 50 day simple moving average of $108.68 and a two-hundred day simple moving average of $104.44. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.64 and a current ratio of 4.37. MGP Ingredients has a fifty-two week low of $71.35 and a fifty-two week high of $123.24.
MGP Ingredients Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, November 17th. This represents a $0.48 annualized dividend and a dividend yield of 0.39%. MGP Ingredients’s payout ratio is 9.06%.
MGP Ingredients Company Profile
MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, branded spirits, and food ingredients. It operates through three segments: Distillery Products; Branded Spirits; and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food-grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.
- Get a free copy of the StockNews.com research report on MGP Ingredients (MGPI)
- After Nixing its 13% Dividend, Is Lumen Technologies Okay To Own?
- The Sell-Side Caps Gains In Dick’s Sporting Goods
- Cisco Systems Hopes Restructuring Cuts Costs to Drive Revenue
- Want to Get a 10% Dividend Yield, Look Here
- Stock-ing Stuffers: 3 Attractive Stocks Trading Around $10
Receive News & Ratings for MGP Ingredients Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGP Ingredients and related companies with MarketBeat.com's FREE daily email newsletter.