Ingredion Incorporated (NYSE:INGR) Shares Sold by MGO One Seven LLC

MGO One Seven LLC cut its stake in shares of Ingredion Incorporated (NYSE:INGR) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,432 shares of the company’s stock after selling 361 shares during the quarter. MGO One Seven LLC’s holdings in Ingredion were worth $335,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC boosted 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 valued at $572,000 after purchasing an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Ingredion by 32.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after purchasing an additional 79 shares in the last quarter. Mindset Wealth Management LLC boosted its holdings in Ingredion by 2.1% in the fourth quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company’s stock valued at $538,000 after purchasing an additional 82 shares in the last quarter. Transcend Capital Advisors LLC boosted its holdings in Ingredion by 2.1% in the fourth quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock valued at $594,000 after purchasing an additional 90 shares in the last quarter. Finally, Truist Financial Corp boosted its holdings in Ingredion by 1.3% in the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock valued at $943,000 after purchasing an additional 90 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on INGR. BMO Capital Markets lowered their price target on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. UBS Group set a $155.00 price objective on Ingredion in a report on Tuesday, April 22nd. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Stephens decreased their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, Oppenheimer decreased their price objective on Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Ingredion has an average rating of “Moderate Buy” and a consensus target price of $152.20.

Ingredion Price Performance

Ingredion stock opened at $131.13 on Tuesday. Ingredion Incorporated has a 12 month low of $111.54 and a 12 month high of $155.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The business has a 50 day simple moving average of $130.88 and a 200-day simple moving average of $135.62. The stock has a market capitalization of $8.43 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.03 and a beta of 0.72.

Ingredion (NYSE:INGR) last released its quarterly 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 business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.44%. The ex-dividend date was Tuesday, April 1st. Ingredion’s payout ratio is 32.96%.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the completion of the transaction, the chief executive officer now owns 34,127 shares in the company, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

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.