Ingredion Incorporated (NYSE:INGR) Receives $155.17 Consensus Target Price from Brokerages

Shares of Ingredion Incorporated (NYSE:INGR) have received an average rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $155.17.

Several research analysts recently issued reports on INGR shares. BMO Capital Markets increased their target price on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. Stephens upgraded shares of Ingredion to a “hold” rating in a report on Monday, December 2nd. UBS Group raised their target price on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays upped their price target on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, Oppenheimer raised their price objective on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th.

Insiders Place Their Bets

In related news, SVP Larry Fernandes sold 4,700 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the transaction, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,454,105.94. This represents a 13.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James D. Gray sold 54,869 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the transaction, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,198 shares of company stock valued at $9,702,461 in the last three months. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Ingredion

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in shares of Ingredion by 1.5% in the third quarter. Principal Financial Group Inc. now owns 725,374 shares of the company’s stock worth $99,683,000 after purchasing an additional 10,812 shares during the last quarter. Franklin Resources Inc. lifted its position in Ingredion by 75.7% during the third quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock valued at $26,109,000 after purchasing an additional 83,708 shares during the last quarter. Tidal Investments LLC grew its stake in Ingredion by 0.5% in the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock worth $2,720,000 after buying an additional 94 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Ingredion in the 3rd quarter worth $149,000. Finally, Fulcrum Equity Management raised its position in shares of Ingredion by 18.2% during the 3rd quarter. Fulcrum Equity Management now owns 4,033 shares of the company’s stock valued at $554,000 after buying an additional 620 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Ingredion Stock Performance

Shares of Ingredion stock opened at $139.47 on Monday. The company has a market cap of $9.09 billion, a P/E ratio of 13.61, a PEG ratio of 1.24 and a beta of 0.74. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $142.46 and a two-hundred day moving average price of $131.80. Ingredion has a 1-year low of $106.03 and a 1-year high of $155.44.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 earnings per share. As a group, analysts anticipate that Ingredion will post 10.59 EPS for the current year.

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd will be issued a $0.80 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.29%. Ingredion’s dividend payout ratio is presently 31.22%.

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.