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

Ingredion Incorporated (NYSE:INGR) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $127.17.

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

Ingredion Stock Performance

INGR 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’s 50-day moving average price is $116.13 and its two-hundred day moving average price is $113.62. The firm has a market cap of $7.42 billion, a PE ratio of 11.32, a P/E/G ratio of 1.07 and a beta of 0.72. The company has a current ratio of 2.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.47.

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

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.76%. Ingredion’s dividend payout ratio (DPR) is currently 31.26%.

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were 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 in the company, valued at $3,436,085.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $119.11, for a total transaction of $282,171.59. Following the sale, the senior vice president now directly owns 28,848 shares in the company, valued at $3,436,085.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James P. Zallie sold 27,500 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the sale, the chief executive officer now owns 52,197 shares in the company, valued at approximately $6,073,642.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,359 shares of company stock valued at $4,515,644. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Ingredion

Several hedge funds have recently added to or reduced their stakes in the business. Loews Corp increased its holdings in Ingredion by 11.1% in the fourth quarter. Loews Corp now owns 200,000 shares of the company’s stock worth $21,706,000 after purchasing an additional 20,000 shares in the last quarter. Paradiem LLC lifted its position in shares of Ingredion by 64.2% during the 4th quarter. Paradiem LLC now owns 73,190 shares of the company’s stock valued at $7,943,000 after acquiring an additional 28,617 shares during the period. Insight Wealth Strategies LLC grew its holdings in Ingredion by 230.9% in the first quarter. Insight Wealth Strategies LLC now owns 13,725 shares of the company’s stock worth $1,604,000 after purchasing an additional 9,577 shares during the period. Dimensional Fund Advisors LP increased its stake in Ingredion by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,471,587 shares of the company’s stock valued at $268,243,000 after purchasing an additional 82,599 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its holdings in shares of Ingredion by 2.5% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 16,609 shares of the company’s stock valued at $1,803,000 after purchasing an additional 399 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.