Brokerages Set Ingredion Incorporated (NYSE:INGR) Target Price at $138.83

Shares of Ingredion Incorporated (NYSE:INGR) have earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $151.00.

Several equities research analysts recently issued reports on INGR shares. UBS Group upped their price target on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. BMO Capital Markets upped their target price on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday. Oppenheimer raised their price target on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, Barclays lifted their target price on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday.

Ingredion Price Performance

Shares of INGR opened at $151.55 on Friday. The stock has a market cap of $9.86 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.29 and a beta of 0.73. The business’s fifty day moving average is $136.22 and its 200 day moving average is $125.44. The company has a quick ratio of 1.51, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. Ingredion has a 12-month low of $100.53 and a 12-month high of $155.44.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.58 by $0.47. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 earnings per share. Sell-side analysts anticipate that Ingredion will post 10.6 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.11%. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is presently 31.22%.

Insider Buying and Selling

In other Ingredion news, SVP Larry Fernandes sold 4,700 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the sale, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at $4,454,105.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the sale, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,454,105.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares of the company’s stock, valued at $6,967,399.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,056 shares of company stock valued at $4,121,736. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after buying an additional 125,543 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Ingredion by 92.4% in the second quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after buying an additional 846,967 shares in the last quarter. Cooke & Bieler LP boosted its stake in Ingredion by 2.7% during the second quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company’s stock valued at $116,765,000 after buying an additional 27,087 shares during the period. Equity Investment Corp grew its position in Ingredion by 2.8% during the second quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock worth $112,250,000 after buying an additional 26,526 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Ingredion by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 759,588 shares of the company’s stock worth $87,125,000 after acquiring an additional 17,062 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

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.