MGP Ingredients (NASDAQ:MGPI) Downgraded by StockNews.com

StockNews.com downgraded shares of MGP Ingredients (NASDAQ:MGPI) from a hold rating to a sell rating in a research report sent to investors on Friday.

MGPI has been the topic of several other reports. Roth Mkm lowered their price target on shares of MGP Ingredients from $100.00 to $95.00 and set a buy rating on the stock in a report on Thursday, April 25th. Wedbush reissued an outperform rating and set a $120.00 target price on shares of MGP Ingredients in a research note on Wednesday, April 10th.

MGP Ingredients Price Performance

NASDAQ:MGPI opened at $81.54 on Friday. MGP Ingredients has a one year low of $75.78 and a one year high of $124.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.47 and a current ratio of 4.51. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.19 and a beta of 0.76. The firm’s fifty day moving average is $82.46 and its two-hundred day moving average is $89.30.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.38 by $0.26. MGP Ingredients had a net margin of 12.72% and a return on equity of 16.03%. The company had revenue of $214.90 million for the quarter, compared to analyst estimates of $206.87 million. During the same period in the prior year, the company earned $1.01 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. Research analysts expect that MGP Ingredients will post 6.18 EPS for the current year.

MGP Ingredients Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Thursday, March 14th. MGP Ingredients’s payout ratio is currently 10.00%.

Insider Transactions at MGP Ingredients

In other news, VP Erika Lapish bought 500 shares of the stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $77.86 per share, with a total value of $38,930.00. Following the purchase, the vice president now directly owns 550 shares in the company, valued at approximately $42,823. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 28.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Tudor Investment Corp Et Al acquired a new position in shares of MGP Ingredients during the 3rd quarter worth about $2,985,000. Victory Capital Management Inc. raised its holdings in MGP Ingredients by 58.0% in the 3rd quarter. Victory Capital Management Inc. now owns 217,403 shares of the company’s stock valued at $22,932,000 after acquiring an additional 79,791 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in MGP Ingredients by 594.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 19,030 shares of the company’s stock valued at $1,875,000 after acquiring an additional 16,290 shares during the last quarter. KLR Investment Advisors LLC raised its holdings in MGP Ingredients by 5.8% in the 3rd quarter. KLR Investment Advisors LLC now owns 2,911 shares of the company’s stock valued at $282,000 after acquiring an additional 159 shares during the last quarter. Finally, Peterson Wealth Services acquired a new stake in MGP Ingredients in the 4th quarter valued at about $221,000. Institutional investors and hedge funds own 77.11% of the company’s stock.

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.