StockNews.com lowered shares of MGP Ingredients (NASDAQ:MGPI - Free Report) from a hold rating to a sell rating in a research note published on Friday morning.
Other equities analysts also recently issued reports about the stock. Truist Financial decreased their price objective on shares of MGP Ingredients from $85.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, November 1st. TD Cowen cut shares of MGP Ingredients from a "buy" rating to a "hold" rating and lowered their price target for the company from $66.00 to $50.00 in a report on Wednesday, November 6th. Wells Fargo & Company reduced their price objective on MGP Ingredients from $58.00 to $44.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Roth Mkm decreased their target price on MGP Ingredients from $65.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday, December 23rd. Finally, Lake Street Capital raised MGP Ingredients from a "hold" rating to a "buy" rating and dropped their price target for the stock from $55.00 to $45.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.
Read Our Latest Analysis on MGPI
MGP Ingredients Stock Performance
Shares of NASDAQ MGPI traded down $0.27 during midday trading on Friday, hitting $32.47. 486,957 shares of the company's stock were exchanged, compared to its average volume of 412,354. The company has a quick ratio of 1.94, a current ratio of 6.46 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $712.81 million, a PE ratio of 6.75 and a beta of 0.62. MGP Ingredients has a 12 month low of $31.31 and a 12 month high of $92.52. The company's 50 day moving average price is $35.53 and its 200 day moving average price is $55.71.
MGP Ingredients Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Friday, March 14th. MGP Ingredients's payout ratio is currently 31.79%.
Institutional Investors Weigh In On MGP Ingredients
Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of MGP Ingredients by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 1,126,169 shares of the company's stock valued at $44,337,000 after buying an additional 7,471 shares in the last quarter. FMR LLC increased its stake in MGP Ingredients by 14.2% in the third quarter. FMR LLC now owns 1,102,985 shares of the company's stock valued at $91,824,000 after acquiring an additional 137,292 shares during the last quarter. Dimensional Fund Advisors LP raised its position in MGP Ingredients by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 914,854 shares of the company's stock valued at $36,017,000 after purchasing an additional 57,714 shares in the last quarter. Wasatch Advisors LP bought a new stake in MGP Ingredients during the fourth quarter worth $28,388,000. Finally, State Street Corp boosted its holdings in shares of MGP Ingredients by 22.4% in the 3rd quarter. State Street Corp now owns 717,675 shares of the company's stock valued at $59,746,000 after purchasing an additional 131,542 shares in the last quarter. Institutional investors own 77.11% of the company's stock.
MGP Ingredients Company Profile
(
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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.
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