A Stock With Stellar Fundamentals? MGP Ingredients Inc. (NASDAQ:MGPI): Is It Right For You?

In yesterday’s Wall Street session, MGP Ingredients Inc. (NASDAQ:MGPI) shares traded at $96.66, up 0.15% from the previous session.

As of this writing, 7 analysts cover MGP Ingredients Inc. (NASDAQ:MGPI). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $140.00 and a low of $115.00, we find $125.00. Given the previous closing price of $96.52, this indicates a potential upside of 29.51 percent. MGPI stock price is now -13.67% away from the 50-day moving average and -7.54% away from the 200-day moving average. The market capitalization of the company currently stands at $2.07B.

There are 0 analysts who have given it a hold rating, whereas 7 have given it a buy rating. Brokers who have rated the stock have averaged $126.57 as their price target over the next twelve months.

With the price target of $125, Wedbush recently initiated with Outperform rating for MGP Ingredients Inc. (NASDAQ: MGPI). On August 15, 2022, Wells Fargo recently initiated its ‘Overweight’ rating on the stock quoting a target price of $126, while ‘ROTH Capital’ rates the stock as ‘Buy’.

In other news, Seaberg Karen, Director sold 3,795 shares of the company’s stock on Jan 04. The stock was sold for $390,589 at an average price of $102.92. Upon completion of the transaction, the Director now directly owns 62,359 shares in the company, valued at $6.03 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 03, Director Seaberg Karen sold 3,500 shares of the business’s stock. A total of $361,867 was realized by selling the stock at an average price of $103.39. This leaves the insider owning 2,295,512 shares of the company worth $221.88 million. Insiders disposed of 41,294 shares of company stock worth roughly $3.99 million over the past 1 year. A total of 8.20% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in MGPI stock. A new stake in MGP Ingredients Inc. shares was purchased by CONGRESS ASSET MANAGEMENT CO /MA during the first quarter worth $15,656,000. FARMER STEVEN PATRICK invested $5,127,000 in shares of MGPI during the first quarter. In the first quarter, LISANTI CAPITAL GROWTH, LLC acquired a new stake in MGP Ingredients Inc. valued at approximately $3,265,000. GREAT WEST LIFE ASSURANCE CO /CAN/ acquired a new stake in MGPI for approximately $1,920,000. CLARK CAPITAL MANAGEMENT GROUP, INC. purchased a new stake in MGPI valued at around $1,246,000 in the second quarter. In total, there are 310 active investors with 81.70% ownership of the company’s stock.

Tuesday morning saw MGP Ingredients Inc. (NASDAQ: MGPI) opened at $96.56. During the past 12 months, MGP Ingredients Inc. has had a low of $73.02 and a high of $125.74. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 4.40, and a quick ratio of 1.60. The fifty day moving average price for MGPI is $111.97 and a two-hundred day moving average price translates $104.54 for the stock.

The latest earnings results from MGP Ingredients Inc. (NASDAQ: MGPI) was released for Jun, 2022. According to the Packaged Foods Company, earnings per share came in at $1.15, beating analysts’ expectations of $0.94 by 0.21. This compares to $1.08 EPS in the same period last year. The net profit margin was 16.30% and return on equity was 17.90% for MGPI. The company reported revenue of $201.15 million for the quarter, compared to $176.61 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.89 percent. For the current quarter, analysts expect MGPI to generate $190.81M in revenue.

Moreover, the firm recently paid out its quarterly dividend on 12/02/2022. Investors who held shares on 11/18/2022 were paid a $0.12 dividend. On an annualized basis, this represents a $0.48 dividend and a 0.50% percent yield. There was an ex-dividend date of 11/17/2022 for this dividend. In terms of dividend payout ratio, MGPI is presently at 8.60%.

MGP Ingredients Inc.(MGPI) Company Profile

MGP Ingredients, Inc., together with its subsidiaries, produces and supplies distilled spirits, branded spirits, and food ingredients. It operates through three segments: Distillery Products; Branded Spirits; and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food-grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products. This segment also provides fuel-grade alcohol for blending with gasoline; distillers feed and related co-products, such as distillers feed and corn oil; and warehouse services, including barrel put away, storage, and retrieval services, as well as blending services. The Branded Spirits segment provides ultra-premium, premium, mid, and value branded distilled spirits. The Ingredient Solutions segment provides specialty wheat starches for food applications under the Fibersym, Resistant Starch, and FiberRite RW Resistant Starch names; specialty wheat proteins for food applications under the Arise and Proterra names; gluten-free textured pea proteins; commodity wheat starch for food and non-food applications; and commodity wheat proteins. The company sells its products directly or through distributors to manufacturers and processors of finished packaged goods or to bakeries primarily in the United States, the United Kingdom, Japan, Thailand, Mexico, and Canada. MGP Ingredients, Inc. was founded in 1941 and is headquartered in Atchison, Kansas.