Davida Marie Gable Sells 1,164 Shares of Ingredion Incorporated (NYSE:INGR) Stock

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Monday, July 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 30th. This represents a $2.84 annualized dividend and a dividend yield of 2.65%. Ingredion’s payout ratio is presently 34.34%.

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

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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.