Ingredion Incorporated (NYSE:INGR) Receives $127.17 Consensus Target Price from Analysts

Shares of Ingredion Incorporated (NYSE:INGR) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have 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 issued ratings on the stock in the last year is $127.17.

INGR has been the topic of several research analyst reports. BMO Capital Markets boosted their price target on Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, May 9th. StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 13th. Finally, Barclays lifted their price objective on shares of Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th.

Ingredion Stock Up 0.1 %

Ingredion stock opened at $112.95 on Monday. Ingredion has a 1-year low of $89.54 and a 1-year high of $122.18. The business has a fifty day moving average price of $116.13 and a 200-day moving average price of $113.62. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.39. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.07 and a beta of 0.72.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $2.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.08. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. The business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the company posted $2.80 earnings per share. Equities research analysts forecast that Ingredion will post 9.76 EPS for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 1st will be given a $0.78 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $3.12 annualized dividend and a yield of 2.76%. Ingredion’s dividend payout ratio is presently 31.26%.

Insider Activity

In other Ingredion news, CFO James D. Gray sold 8,490 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $121.74, for a total value of $1,033,572.60. Following the completion of the transaction, the chief financial officer now owns 42,833 shares in the company, valued at $5,214,489.42. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Ingredion news, CFO James D. Gray sold 8,490 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $121.74, for a total value of $1,033,572.60. Following the sale, the chief financial officer now directly owns 42,833 shares of the company’s stock, valued at $5,214,489.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $119.11, for a total value of $282,171.59. Following the transaction, the senior vice president now directly owns 28,848 shares of the company’s stock, valued at $3,436,085.28. The disclosure for this sale can be found here. Insiders sold a total of 38,359 shares of company stock valued at $4,515,644 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Ingredion

Several institutional investors have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV lifted its stake in Ingredion by 0.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 40,623 shares of the company’s stock valued at $4,659,000 after buying an additional 185 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Ingredion by 127.3% in the second quarter. GAMMA Investing LLC now owns 600 shares of the company’s stock valued at $69,000 after acquiring an additional 336 shares in the last quarter. Transcend Capital Advisors LLC boosted its stake in shares of Ingredion by 8.6% in the second quarter. Transcend Capital Advisors LLC now owns 4,051 shares of the company’s stock worth $465,000 after acquiring an additional 321 shares during the last quarter. Bank of New Hampshire increased its position in shares of Ingredion by 2.2% during the second quarter. Bank of New Hampshire now owns 17,012 shares of the company’s stock worth $1,951,000 after purchasing an additional 369 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.