Ingredion (NYSE:INGR) Price Target Raised to $147.00

Ingredion (NYSE:INGR) had its price objective upped by Oppenheimer from $138.00 to $147.00 in a research note issued to investors on Monday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

INGR has been the topic of a number of other research reports. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $122.00 to $145.00 in a research note on Friday, August 9th. UBS Group boosted their target price on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, BMO Capital Markets boosted their target price on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Ingredion currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.83.

Ingredion Trading Up 1.2 %

NYSE INGR opened at $135.96 on Monday. The business has a 50 day simple moving average of $134.43 and a 200 day simple moving average of $123.13. Ingredion has a one year low of $89.54 and a one year high of $138.37. The stock has a market capitalization of $8.93 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.22 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the firm posted $2.32 earnings per share. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. Research analysts expect that Ingredion will post 9.95 earnings per share for the current year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were given a dividend of $0.80 per share. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.35%. Ingredion’s dividend payout ratio is presently 32.06%.

Insider Buying and Selling at Ingredion

In other Ingredion news, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the transaction, the chief executive officer now owns 52,159 shares in the company, valued at approximately $6,967,399.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO James P. Zallie sold 22,550 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,046,374.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the transaction, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,551 shares of company stock valued at $3,550,084 in the last 90 days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Ingredion

A number of institutional investors have recently bought and sold shares of INGR. Signaturefd LLC raised its holdings in Ingredion by 5.7% during the third quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock valued at $216,000 after acquiring an additional 85 shares during the period. Conscious Wealth Investments LLC grew its position in Ingredion by 0.4% in the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock worth $2,967,000 after acquiring an additional 106 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares in the last quarter. Delphi Management Inc. MA grew its position in Ingredion by 0.8% in the second quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock worth $1,793,000 after acquiring an additional 123 shares in the last quarter. Finally, Raleigh Capital Management Inc. grew its position in Ingredion by 19.9% in the third quarter. Raleigh Capital Management Inc. now owns 945 shares of the company’s stock worth $130,000 after acquiring an additional 157 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

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.