Yacktman Asset Management LP Sells 319,095 Shares of Ingredion Incorporated (NYSE:INGR)

Yacktman Asset Management LP reduced its stake in Ingredion Incorporated (NYSE:INGR) by 14.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,844,704 shares of the company’s stock after selling 319,095 shares during the quarter. Ingredion makes up 2.6% of Yacktman Asset Management LP’s investment portfolio, making the stock its 14th largest holding. Yacktman Asset Management LP owned approximately 2.81% of Ingredion worth $253,518,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in INGR. Janus Henderson Group PLC increased its stake in shares of Ingredion by 154.0% in the first quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock worth $9,101,000 after purchasing an additional 47,225 shares during the period. Sei Investments Co. lifted its holdings in shares of Ingredion by 23.4% during the first quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock worth $13,305,000 after buying an additional 21,619 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Ingredion during the first quarter worth approximately $1,812,000. Point72 DIFC Ltd boosted its position in shares of Ingredion by 2,629.3% in the second quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock valued at $438,000 after acquiring an additional 3,681 shares during the period. Finally, Equity Investment Corp grew its stake in shares of Ingredion by 2.9% in the first quarter. Equity Investment Corp now owns 952,110 shares of the company’s stock worth $111,254,000 after acquiring an additional 27,062 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Ingredion Stock Up 0.2 %

NYSE INGR opened at $134.04 on Tuesday. Ingredion Incorporated has a 1-year low of $95.07 and a 1-year high of $138.37. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.21 and a beta of 0.73. The stock’s 50 day moving average is $134.76 and its two-hundred day moving average is $124.46. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.53 by $0.34. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm earned $2.32 EPS. Ingredion’s quarterly revenue was down 9.2% on a year-over-year basis. Equities analysts forecast that Ingredion Incorporated will post 10.05 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Tuesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is currently 32.72%.

Insider Transactions at Ingredion

In other Ingredion news, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the transaction, the chief executive officer now directly owns 52,159 shares in the company, valued at $6,967,399.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,070.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was 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 directly owns 52,159 shares of the company’s stock, valued at approximately $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 25,356 shares of company stock valued at $3,400,709. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. UBS Group increased their target price on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets boosted their price target on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. Finally, Oppenheimer boosted their price objective on Ingredion from $138.00 to $147.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ingredion presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.83.

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.