Ingredion Incorporated (NYSE:INGR) Receives $158.20 Consensus Target Price from Analysts

Ingredion Incorporated (NYSE:INGR) has received an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $158.20.

Several research firms recently commented on INGR. BMO Capital Markets lowered 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. Oppenheimer lowered their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. UBS Group raised their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Stephens reduced their price objective on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the transaction, the chief executive officer now owns 34,127 shares of the company’s stock, valued at $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Ingredion

A number of hedge funds have recently modified their holdings of INGR. Patriot Financial Group Insurance Agency LLC grew its position in Ingredion by 1.8% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock worth $572,000 after purchasing an additional 74 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after buying an additional 79 shares during the period. Mindset Wealth Management LLC grew its holdings in shares of Ingredion by 2.1% during the fourth quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company’s stock worth $538,000 after buying an additional 82 shares during the last quarter. Waverly Advisors LLC increased its position in Ingredion by 3.8% in the 4th quarter. Waverly Advisors LLC now owns 2,303 shares of the company’s stock valued at $317,000 after acquiring an additional 84 shares during the period. Finally, Transcend Capital Advisors LLC raised its stake in Ingredion by 2.1% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock valued at $594,000 after acquiring an additional 90 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Trading Up 0.6 %

INGR opened at $131.37 on Friday. Ingredion has a 52 week low of $109.51 and a 52 week high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $131.60 and a 200-day simple moving average of $136.54. The firm has a market cap of $8.43 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.03 and a beta of 0.75.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.09. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. Ingredion’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the business posted $1.65 EPS. On average, equities analysts expect that Ingredion will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.44%. Ingredion’s dividend payout ratio 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.