Ingredion Incorporated (NYSE:INGR – Get Rating) VP Davida Marie Gable sold 1,164 shares of Ingredion stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $110.19, for a total value of $128,261.16. Following the sale, the vice president now directly owns 1,171 shares of the company’s stock, valued at $129,032.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Ingredion Stock Down 1.3 %
Shares of NYSE:INGR traded down $1.45 during midday trading on Friday, hitting $107.08. 205,847 shares of the company’s stock were exchanged, compared to its average volume of 329,104. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.80 and a quick ratio of 0.92. The stock has a 50 day moving average price of $104.77 and a 200-day moving average price of $100.81. The company has a market cap of $7.07 billion, a PE ratio of 12.98 and a beta of 0.76. Ingredion Incorporated has a 12 month low of $78.81 and a 12 month high of $113.46.
Ingredion (NYSE:INGR – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.79. Ingredion had a net margin of 6.75% and a return on equity of 17.51%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the firm posted $1.95 EPS. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Ingredion Incorporated will post 9.05 EPS for the current fiscal year.
Ingredion Announces Dividend
Hedge Funds Weigh In On Ingredion
Several hedge funds have recently made changes to their positions in the stock. Group One Trading L.P. purchased a new position in Ingredion during the fourth quarter worth about $27,000. National Bank of Canada FI lifted its stake in Ingredion by 119.5% during the first quarter. National Bank of Canada FI now owns 292 shares of the company’s stock worth $30,000 after purchasing an additional 159 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Ingredion by 3,260.0% during the first quarter. Global Retirement Partners LLC now owns 336 shares of the company’s stock worth $37,000 after purchasing an additional 326 shares during the last quarter. Aspire Private Capital LLC lifted its stake in Ingredion by 172.3% during the fourth quarter. Aspire Private Capital LLC now owns 354 shares of the company’s stock worth $34,667,220,000 after purchasing an additional 224 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Ingredion during the fourth quarter worth about $35,000. 85.70% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. UBS Group raised shares of Ingredion from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $105.00 to $121.00 in a research note on Thursday, April 13th. StockNews.com initiated coverage on shares of Ingredion in a report on Thursday, May 18th. They set a “buy” rating on the stock. Stephens reiterated an “overweight” rating and set a $120.00 price target on shares of Ingredion in a report on Friday, March 17th. Barclays lifted their price target on shares of Ingredion from $110.00 to $120.00 in a report on Thursday, May 4th. Finally, BMO Capital Markets lifted their price target on shares of Ingredion from $115.00 to $123.00 in a report on Thursday, May 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $118.80.
Ingredion Company Profile
Ingredion, Inc engages in the development, production, and sale of food and beverage ingredients, primarily starches and sweeteners. The firm is involved in transforming corn, tapioca, potatoes, plant-based stevia, grains, fruits, gums, and vegetables into value-added ingredients and biomaterials for the food, beverage, brewing, and other industries.
- Get a free copy of the StockNews.com research report on Ingredion (INGR)
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