Ingredion Incorporated (NYSE:INGR) Holdings Cut by Westover Capital Advisors LLC

Westover Capital Advisors LLC lowered its holdings in Ingredion Incorporated (NYSE:INGR) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 27,424 shares of the company’s stock after selling 568 shares during the period. Ingredion accounts for about 0.8% of Westover Capital Advisors LLC’s portfolio, making the stock its 27th biggest position. Westover Capital Advisors LLC’s holdings in Ingredion were worth $3,772,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC lifted its holdings in Ingredion by 1.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock worth $572,000 after acquiring an additional 74 shares during the last quarter. Transcend Capital Advisors LLC raised its holdings in shares of Ingredion by 2.1% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock valued at $594,000 after buying an additional 90 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Ingredion by 1.3% during the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock valued at $943,000 after buying an additional 90 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Ingredion by 0.5% during the third quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock valued at $2,720,000 after buying an additional 94 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Ingredion by 0.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,383 shares of the company’s stock valued at $1,427,000 after buying an additional 97 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Insiders Place Their Bets

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 shares were sold at an average price of $125.88, for a total value of $1,361,392.20. Following the transaction, the chief executive officer now owns 34,127 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Ingredion Price Performance

Shares of NYSE:INGR opened at $130.43 on Tuesday. Ingredion Incorporated has a 12 month low of $109.51 and a 12 month high of $155.44. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 1.03 and a beta of 0.74. The stock’s 50 day moving average price is $132.71 and its 200 day moving average price is $136.62. 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 (NYSE:INGR) last announced its earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.54 by $0.09. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were given a $0.80 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 annualized dividend and a yield of 2.45%. Ingredion’s dividend payout ratio (DPR) is 32.96%.

Wall Street Analyst Weigh In

INGR has been the topic of a number of recent analyst reports. BMO Capital Markets cut their price target on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Stephens cut their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. UBS Group lifted their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Oppenheimer cut their price target on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Finally, Barclays lifted their price target on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.20.

Ingredion Company Profile

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.