Shares of Ingredion Inc (NYSE:INGR) have been assigned a consensus recommendation of “Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $145.75.
A number of research firms have issued reports on INGR. BMO Capital Markets reissued a “hold” rating and issued a $125.00 price objective on shares of Ingredion in a report on Friday, September 29th. BidaskClub raised shares of Ingredion from a “sell” rating to a “hold” rating in a report on Friday, October 6th. Zacks Investment Research downgraded shares of Ingredion from a “buy” rating to a “hold” rating and set a $135.00 price objective for the company. in a report on Wednesday, September 27th. Stephens raised shares of Ingredion from an “equal weight” rating to an “overweight” rating in a report on Wednesday, November 15th. Finally, Credit Suisse Group set a $156.00 price objective on shares of Ingredion and gave the company a “buy” rating in a report on Wednesday.
In other Ingredion news, SVP Jorgen Kokke sold 20,674 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $133.00, for a total value of $2,749,642.00. Following the completion of the sale, the senior vice president now owns 23,119 shares of the company’s stock, valued at approximately $3,074,827. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.92% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of Ingredion by 87.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,396,952 shares of the company’s stock worth $168,528,000 after acquiring an additional 651,035 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Ingredion by 19.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,215,767 shares of the company’s stock worth $146,670,000 after acquiring an additional 193,722 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Ingredion by 2.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,156,251 shares of the company’s stock worth $139,491,000 after acquiring an additional 24,174 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Ingredion by 1.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 999,894 shares of the company’s stock worth $119,197,000 after acquiring an additional 16,793 shares during the period. Finally, Check Capital Management Inc. CA lifted its holdings in shares of Ingredion by 98.7% during the 3rd quarter. Check Capital Management Inc. CA now owns 857,289 shares of the company’s stock worth $103,423,000 after acquiring an additional 425,835 shares during the period. 84.46% of the stock is owned by institutional investors.
Shares of Ingredion (INGR) opened at $135.96 on Friday. The company has a market cap of $9,750.00, a PE ratio of 19.45, a P/E/G ratio of 1.51 and a beta of 0.72. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.53 and a current ratio of 2.41. Ingredion has a twelve month low of $113.07 and a twelve month high of $142.64.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $2.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.17. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.52 billion. Ingredion had a net margin of 8.73% and a return on equity of 20.92%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.96 EPS. analysts forecast that Ingredion will post 7.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Tuesday, January 2nd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Friday, December 29th. Ingredion’s dividend payout ratio is currently 34.33%.
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Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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