Victory Capital Management Inc. Purchases 45,863 Shares of Ingredion Incorporated (NYSE:INGR)

Victory Capital Management Inc. raised its position in shares of Ingredion Incorporated (NYSE:INGR) by 74.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,438 shares of the company’s stock after acquiring an additional 45,863 shares during the period. Victory Capital Management Inc. owned approximately 0.16% of Ingredion worth $14,779,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Ingredion in the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC bought a new stake in shares of Ingredion in the third quarter valued at approximately $41,000. Crews Bank & Trust bought a new stake in shares of Ingredion in the fourth quarter valued at approximately $48,000. Versant Capital Management Inc boosted its stake in shares of Ingredion by 431.0% in the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after buying an additional 362 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Ingredion in the third quarter valued at approximately $86,000. Institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on INGR. Stephens cut their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Oppenheimer cut their price target on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. UBS Group upped their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets cut their target price on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Finally, StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ingredion has a consensus rating of “Moderate Buy” and a consensus price target of $158.20.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the completion of the sale, the chief executive officer now directly owns 34,127 shares in the company, valued at $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Ingredion Stock Down 2.0 %

NYSE INGR opened at $130.39 on Thursday. The business has a fifty day moving average price of $131.83 and a two-hundred day moving average price of $136.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. Ingredion Incorporated has a fifty-two week low of $109.51 and a fifty-two week high of $155.44. The stock has a market capitalization of $8.37 billion, a PE ratio of 13.43, a PEG ratio of 1.03 and a beta of 0.75.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.09. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.65 earnings per share. Equities analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.45%. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

About Ingredion

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.