According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “
Several other equities research analysts have also recently commented on INGR. Jefferies Group reissued a buy rating and issued a $147.00 target price (up from $136.00) on shares of Ingredion in a research note on Friday, July 15th. Citigroup Inc. lifted their target price on Ingredion from $140.00 to $154.00 and gave the company a buy rating in a research note on Friday, July 29th. Societe Generale assumed coverage on Ingredion in a research report on Wednesday, September 7th. They issued a hold rating on the stock. Finally, Credit Suisse Group AG raised their price target on Ingredion from $150.00 to $155.00 and gave the stock an outperform rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Ingredion currently has a consensus rating of Hold and an average target price of $130.67.
Ingredion (NYSE:INGR) opened at 128.24 on Friday. The company’s 50-day moving average price is $131.53 and its 200 day moving average price is $127.60. Ingredion has a 52-week low of $84.57 and a 52-week high of $140.00. The firm has a market capitalization of $9.26 billion, a price-to-earnings ratio of 20.52 and a beta of 0.78.
Ingredion (NYSE:INGR) last released its earnings results on Wednesday, November 2nd. The company reported $1.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.18. The company earned $1.49 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Ingredion had a return on equity of 21.14% and a net margin of 8.50%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $1.64 EPS. Equities analysts predict that Ingredion will post $7.01 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 25th. Shareholders of record on Monday, October 3rd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, September 29th. This is a positive change from Ingredion’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.56%. Ingredion’s payout ratio is currently 30.03%.
In other Ingredion news, CEO Ilene S. Gordon sold 70,492 shares of Ingredion stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $135.19, for a total transaction of $9,529,813.48. Following the transaction, the chief executive officer now directly owns 188,430 shares in the company, valued at $25,473,851.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert J. Stefansic sold 18,810 shares of Ingredion stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $135.97, for a total value of $2,557,595.70. Following the transaction, the senior vice president now owns 16,890 shares in the company, valued at $2,296,533.30. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. DAVENPORT & Co LLC raised its position in Ingredion by 0.5% in the third quarter. DAVENPORT & Co LLC now owns 2,654 shares of the company’s stock valued at $353,000 after buying an additional 14 shares in the last quarter. Advisor Partners LLC increased its stake in Ingredion by 1.5% in the second quarter. Advisor Partners LLC now owns 1,914 shares of the company’s stock valued at $248,000 after buying an additional 28 shares in the last quarter. Citizens Financial Group Inc RI increased its stake in Ingredion by 1.8% in the second quarter. Citizens Financial Group Inc RI now owns 1,572 shares of the company’s stock valued at $204,000 after buying an additional 28 shares in the last quarter. Capital City Trust Co. FL increased its stake in Ingredion by 1.6% in the second quarter. Capital City Trust Co. FL now owns 2,031 shares of the company’s stock valued at $263,000 after buying an additional 31 shares in the last quarter. Finally, Invictus RG increased its stake in Ingredion by 6.9% in the second quarter. Invictus RG now owns 865 shares of the company’s stock valued at $112,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.
Ingredion Company Profile
Ingredion Incorporated (Ingredion) is a global ingredients solutions provider. The Company is engaged in the production and sale of starches and sweeteners for a range of industries. Its operations are classified into four segments: North America, South America, Asia Pacific, and Europe, Middle East and Africa (EMEA).
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