Shares of MGP Ingredients, Inc. (NASDAQ:MGPI – Get Rating) have been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $121.40.

A number of brokerages have commented on MGPI. StockNews.com began coverage on shares of MGP Ingredients in a research report on Wednesday, October 12th. They issued a "hold" rating on the stock. Lake Street Capital increased their target price on shares of MGP Ingredients from $125.00 to $140.00 in a research report on Friday, November 4th. Wedbush began coverage on shares of MGP Ingredients in a research report on Monday, October 10th. They issued an "outperform" rating and a $125.00 target price on the stock. Finally, Wells Fargo & Company increased their target price on shares of MGP Ingredients from $126.00 to $128.00 and gave the company an "overweight" rating in a research report on Friday, November 4th.

Insider Activity

In other news, Director Karen Seaberg sold 4,472 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $106.38, for a total value of $475,731.36. Following the completion of the transaction, the director now owns 61,067 shares in the company, valued at approximately $6,496,307.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 4,913 shares of company stock worth $523,557 in the last 90 days. 36.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MGP Ingredients

MGP Ingredients Trading Up 0.5 %

Shares of NASDAQ:MGPI opened at $109.44 on Friday. MGP Ingredients has a 52 week low of $73.02 and a 52 week high of $125.74. The company's 50 day moving average is $113.70 and its two-hundred day moving average is $107.78. The company has a current ratio of 4.37, a quick ratio of 1.64 and a debt-to-equity ratio of 0.31. The company has a market cap of $2.41 billion, a PE ratio of 20.65 and a beta of 0.94.

MGP Ingredients Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 2nd. Stockholders of record on Friday, November 18th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Thursday, November 17th. MGP Ingredients's dividend payout ratio (DPR) is presently 9.06%.

MGP Ingredients Company Profile

(Get Rating)

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.

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