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

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

Several other analysts also recently commented on MGPI. StockNews.com downgraded shares of MGP Ingredients from a hold rating to a sell rating in a report on Friday, April 26th. Wedbush reiterated an outperform rating and issued a $120.00 price objective on shares of MGP Ingredients in a research note on Monday, April 29th.

MGP Ingredients Price Performance

Shares of NASDAQ MGPI opened at $78.59 on Friday. The stock has a market cap 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 debt-to-equity ratio of 0.34, a quick ratio of 1.97 and a current ratio of 6.32. MGP Ingredients has a fifty-two week low of $75.78 and a fifty-two week high of $124.96. The firm’s 50-day simple moving average is $81.85 and its 200 day simple moving average is $88.46.

MGP Ingredients (NASDAQ:MGPI) last announced its earnings results on Thursday, May 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $170.31 million. During the same quarter in the previous year, the firm earned $1.39 earnings per share. MGP Ingredients’s quarterly revenue was down 15.1% on a year-over-year basis. As a group, research analysts anticipate that MGP Ingredients will post 6.18 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

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

Insider Buying and Selling at MGP Ingredients

In related news, VP Erika Lapish bought 500 shares of the company’s stock in a transaction on Monday, February 26th. The shares were purchased at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the completion of the purchase, the vice president now directly owns 550 shares in the company, valued at $42,823. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 36.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in MGP Ingredients by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 1,126,323 shares of the company’s stock valued at $110,965,000 after acquiring an additional 31,839 shares during the last quarter. Stephens Investment Management Group LLC boosted its stake in MGP Ingredients by 1.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 888,850 shares of the company’s stock valued at $87,570,000 after acquiring an additional 13,587 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of MGP Ingredients by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 698,346 shares of the company’s stock valued at $68,804,000 after purchasing an additional 17,967 shares during the period. Southernsun Asset Management LLC raised its position in shares of MGP Ingredients by 8.9% in the fourth quarter. Southernsun Asset Management LLC now owns 470,661 shares of the company’s stock valued at $46,370,000 after purchasing an additional 38,404 shares during the period. Finally, Congress Asset Management Co. MA raised its position in shares of MGP Ingredients by 21.7% in the first quarter. Congress Asset Management Co. MA now owns 387,003 shares of the company’s stock valued at $33,333,000 after purchasing an additional 68,950 shares during the period. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

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.