Ingredion Incorporated (NYSE:INGR) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC lessened its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 34.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,626 shares of the company’s stock after selling 1,404 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Ingredion were worth $361,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in INGR. Creative Planning raised its position in shares of Ingredion by 5.5% during the 3rd quarter. Creative Planning now owns 11,203 shares of the company’s stock worth $1,540,000 after acquiring an additional 584 shares in the last quarter. Net Worth Advisory Group acquired a new stake in shares of Ingredion during the 3rd quarter worth about $614,000. Blue Trust Inc. raised its position in shares of Ingredion by 126.1% during the 3rd quarter. Blue Trust Inc. now owns 1,343 shares of the company’s stock worth $185,000 after acquiring an additional 749 shares in the last quarter. Raymond James & Associates raised its position in shares of Ingredion by 11.3% during the 3rd quarter. Raymond James & Associates now owns 230,194 shares of the company’s stock worth $31,636,000 after acquiring an additional 23,396 shares in the last quarter. Finally, Means Investment CO. Inc. acquired a new stake in shares of Ingredion during the 3rd quarter worth about $204,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Buying and Selling

In related news, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction on Friday, November 29th. The stock was 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INGR shares. BMO Capital Markets cut their target price on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. UBS Group raised their price target on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Oppenheimer dropped their price target on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Barclays raised 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.20.

Ingredion Trading Down 1.2 %

NYSE:INGR opened at $126.70 on Monday. The firm has a market cap of $8.26 billion, a P/E ratio of 13.05, a PEG ratio of 1.04 and a beta of 0.74. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $135.61 and its 200-day simple moving average is $136.48. Ingredion Incorporated has a 12-month low of $109.51 and a 12-month high of $155.44.

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

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s payout ratio is currently 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.