Recent Research Analysts’ Ratings Changes for MGP Ingredients (MGPI)

MGP Ingredients (NASDAQ: MGPI) has recently received a number of price target changes and ratings updates:

• 5/3/2024 – MGP Ingredients had its price target lowered by analysts at Roth Mkm from $95.00 to $92.00. They now have a “buy” rating on the stock.
• 4/29/2024 – MGP Ingredients had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $120.00 price target on the stock.
• 4/26/2024 – MGP Ingredients was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 4/25/2024 – MGP Ingredients had its price target lowered by analysts at Roth Mkm from $100.00 to $95.00. They now have a “buy” rating on the stock.
• 4/18/2024 – MGP Ingredients was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 4/10/2024 – MGP Ingredients had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $120.00 price target on the stock.
• 4/6/2024 – MGP Ingredients was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 3/29/2024 – MGP Ingredients was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 3/22/2024 – MGP Ingredients had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $120.00 price target on the stock.
• 3/21/2024 – MGP Ingredients was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

MGP Ingredients Stock Performance

Shares of MGPI stock traded up $0.65 during midday trading on Wednesday, hitting $81.45. The company had a trading volume of 28,898 shares, compared to its average volume of 205,803. MGP Ingredients, Inc. has a 52-week low of $75.78 and a 52-week high of $124.96. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.32 and a quick ratio of 1.97. The company’s 50 day simple moving average is $81.90 and its 200 day simple moving average is $88.34. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 1.19 and a beta of 0.75.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data 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 business had revenue of $170.56 million for the quarter, compared to the consensus estimate of $170.31 million. During the same period in the prior year, the business earned $1.39 earnings per share. The business’s revenue was down 15.1% on a year-over-year basis. Research analysts anticipate that MGP Ingredients, Inc. will post 6.18 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Thursday, May 16th. MGP Ingredients’s dividend payout ratio (DPR) is 11.09%.

Insider Activity

In related news, VP Erika Lapish purchased 500 shares of the business’s stock in a transaction on Monday, February 26th. The shares were bought 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 directly owns 550 shares in the company, valued at approximately $42,823. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 36.20% of the company’s stock.

Hedge Funds Weigh In On MGP Ingredients

A number of institutional investors have recently added to or reduced their stakes in MGPI. ProShare Advisors LLC raised its position in shares of MGP Ingredients by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 3,193 shares of the company’s stock valued at $275,000 after purchasing an additional 220 shares in the last quarter. Isthmus Partners LLC raised its holdings in MGP Ingredients by 74.4% in the first quarter. Isthmus Partners LLC now owns 40,567 shares of the company’s stock valued at $3,494,000 after acquiring an additional 17,302 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in MGP Ingredients in the first quarter valued at $284,000. Texas Permanent School Fund Corp boosted its stake in MGP Ingredients by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 13,680 shares of the company’s stock valued at $1,178,000 after acquiring an additional 177 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its holdings in MGP Ingredients by 239.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 64,557 shares of the company’s stock worth $5,560,000 after acquiring an additional 45,527 shares in the last quarter. Institutional investors and hedge funds own 77.11% of the company’s stock.

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.