MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report)'s share price reached a new 52-week low on Tuesday after Roth Mkm lowered their price target on the stock from $69.00 to $65.00. Roth Mkm currently has a buy rating on the stock. MGP Ingredients traded as low as $45.44 and last traded at $46.12, with a volume of 16826 shares. The stock had previously closed at $46.47.
Other analysts have also issued reports about the stock. StockNews.com raised shares of MGP Ingredients from a "sell" rating to a "hold" rating in a research note on Friday. Truist Financial cut their price objective on MGP Ingredients from $85.00 to $75.00 and set a "buy" rating on the stock in a report on Friday. Loop Capital set a $75.00 price objective on MGP Ingredients in a research note on Friday, October 18th. Finally, Lake Street Capital lowered shares of MGP Ingredients from a "buy" rating to a "hold" rating and lowered their target price for the stock from $135.00 to $75.00 in a research note on Friday, October 18th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $82.00.
Check Out Our Latest Analysis on MGP Ingredients
Insiders Place Their Bets
In other news, Director Karen Seaberg sold 1,109 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $90.14, for a total value of $99,965.26. Following the sale, the director now directly owns 134,969 shares in the company, valued at $12,166,105.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 36.20% of the stock is owned by insiders.
Institutional Investors Weigh In On MGP Ingredients
Large investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA bought a new position in MGP Ingredients in the 2nd quarter worth approximately $22,028,000. Champlain Investment Partners LLC grew its position in MGP Ingredients by 25.4% in the first quarter. Champlain Investment Partners LLC now owns 1,366,906 shares of the company's stock worth $117,732,000 after buying an additional 276,675 shares during the last quarter. Ariel Investments LLC acquired a new stake in shares of MGP Ingredients during the 1st quarter valued at $23,059,000. Rice Hall James & Associates LLC bought a new stake in shares of MGP Ingredients during the 3rd quarter worth $6,545,000. Finally, Congress Asset Management Co. grew its holdings in shares of MGP Ingredients by 18.6% in the 3rd quarter. Congress Asset Management Co. now owns 490,546 shares of the company's stock worth $40,838,000 after acquiring an additional 76,835 shares during the last quarter. Institutional investors and hedge funds own 77.11% of the company's stock.
MGP Ingredients Stock Up 1.0 %
The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 0.74 and a beta of 0.66. 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 business has a 50-day moving average price of $76.84 and a 200-day moving average price of $78.18.
MGP Ingredients (NASDAQ:MGPI - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.02. The business had revenue of $161.50 million for the quarter, compared to analyst estimates of $161.55 million. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The firm's revenue was down 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.34 earnings per share. As a group, equities analysts anticipate that MGP Ingredients, Inc. will post 5.58 earnings per share for the current fiscal year.
MGP Ingredients Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, November 15th. MGP Ingredients's dividend payout ratio (DPR) is presently 9.98%.
About MGP Ingredients
(
Get Free Report)
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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