MGP Ingredients Inc (NASDAQ:MGPI) – SunTrust Banks upped their FY2018 EPS estimates for shares of MGP Ingredients in a research note issued on Thursday, Zacks Investment Research reports. SunTrust Banks analyst W. Chappell now expects that the company will earn $2.09 per share for the year, up from their prior estimate of $2.02. SunTrust Banks also issued estimates for MGP Ingredients’ Q1 2019 earnings at $0.67 EPS, Q2 2019 earnings at $0.63 EPS, Q3 2019 earnings at $0.62 EPS and Q4 2019 earnings at $0.66 EPS.
Other analysts have also recently issued research reports about the stock. Stifel Nicolaus began coverage on shares of MGP Ingredients in a research note on Tuesday, December 5th. They issued a “hold” rating and a $73.00 price objective for the company. Zacks Investment Research cut shares of MGP Ingredients from a “buy” rating to a “hold” rating in a research note on Thursday, November 23rd. Craig Hallum restated a “buy” rating and set a $105.00 target price (up from $90.00) on shares of MGP Ingredients in a report on Monday, January 29th. Sidoti upgraded shares of MGP Ingredients from a “neutral” rating to a “buy” rating in a report on Wednesday, January 31st. Finally, BidaskClub downgraded shares of MGP Ingredients from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $87.33.
Shares of MGP Ingredients (NASDAQ MGPI) traded up $1.10 during midday trading on Monday, hitting $80.08. 49,200 shares of the company traded hands, compared to its average volume of 154,582. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.24 and a quick ratio of 1.00. MGP Ingredients has a 12-month low of $47.64 and a 12-month high of $90.34. The firm has a market capitalization of $1,317.16, a PE ratio of 43.56, a price-to-earnings-growth ratio of 2.44 and a beta of 1.09.
MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Thursday, March 1st. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.06. MGP Ingredients had a net margin of 11.71% and a return on equity of 18.76%. The firm had revenue of $88.20 million during the quarter, compared to analysts’ expectations of $85.44 million. During the same quarter last year, the business earned $0.48 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be issued a dividend of $0.08 per share. This is an increase from MGP Ingredients’s previous quarterly dividend of $0.04. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Thursday, March 8th. MGP Ingredients’s dividend payout ratio (DPR) is 13.17%.
In other MGP Ingredients news, CEO Augustus C. Griffin bought 1,000 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was purchased at an average cost of $76.33 per share, for a total transaction of $76,330.00. Following the acquisition, the chief executive officer now owns 108,084 shares of the company’s stock, valued at approximately $8,250,051.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen Seaberg sold 7,270 shares of MGP Ingredients stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $82.14, for a total transaction of $597,157.80. Following the sale, the director now owns 10,934 shares of the company’s stock, valued at $898,118.76. The disclosure for this sale can be found here. Insiders have sold a total of 33,770 shares of company stock valued at $2,687,209 over the last 90 days. 23.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. MetLife Investment Advisors LLC purchased a new stake in shares of MGP Ingredients during the fourth quarter worth about $418,000. Millennium Management LLC purchased a new stake in shares of MGP Ingredients during the fourth quarter worth about $219,000. Earnest Partners LLC purchased a new stake in shares of MGP Ingredients during the fourth quarter worth about $115,000. Two Sigma Investments LP purchased a new stake in shares of MGP Ingredients during the fourth quarter worth about $349,000. Finally, Deutsche Bank AG grew its holdings in shares of MGP Ingredients by 134.1% during the fourth quarter. Deutsche Bank AG now owns 28,546 shares of the company’s stock worth $2,193,000 after buying an additional 16,352 shares in the last quarter. Institutional investors and hedge funds own 95.31% of the company’s stock.
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MGP Ingredients Company Profile
MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.
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