JPMorgan Chase & Co. Boosts Stock Holdings in Ingredion Incorporated (NYSE:INGR)

JPMorgan Chase & Co. lifted its position in shares of Ingredion Incorporated (NYSE:INGR) by 13.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 305,827 shares of the company’s stock after purchasing an additional 35,657 shares during the period. JPMorgan Chase & Co.’s holdings in Ingredion were worth $42,030,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INGR. Dimensional Fund Advisors LP boosted its stake in shares of Ingredion by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after buying an additional 125,543 shares during the last quarter. State Street Corp grew its stake in Ingredion by 0.8% in the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company’s stock valued at $334,862,000 after purchasing an additional 19,560 shares during the period. Pacer Advisors Inc. raised its stake in shares of Ingredion by 92.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after purchasing an additional 846,967 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Ingredion by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock worth $211,529,000 after buying an additional 36,421 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Ingredion by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company’s stock valued at $160,516,000 after buying an additional 19,064 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Oppenheimer lifted their price objective on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Stephens raised Ingredion to a “hold” rating in a research report on Monday, December 2nd. Barclays boosted their target price on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. UBS Group boosted their price objective on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets lifted 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.17.

Insider Buying and Selling

In other news, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the sale, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of the business’s 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 transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,454,105.94. This represents a 13.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,197 shares of company stock valued at $9,702,325 over the last quarter. 1.80% of the stock is owned by company insiders.

Ingredion Trading Up 0.0 %

Shares of Ingredion stock opened at $136.53 on Monday. The company’s 50-day moving average price is $142.92 and its 200-day moving average price is $132.96. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 1.24 and a beta of 0.75. Ingredion Incorporated has a 12-month low of $106.03 and a 12-month high of $155.44. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the firm earned $2.33 EPS. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, equities analysts expect that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.80 per share. The ex-dividend date is Thursday, January 2nd. This represents a $3.20 annualized dividend and a dividend yield of 2.34%. Ingredion’s dividend payout ratio (DPR) is presently 31.22%.

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.