California Public Employees Retirement System reduced its stake in Ingredion Incorporated (NYSE:INGR – Free Report) by 3.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 140,219 shares of the company’s stock after selling 5,731 shares during the quarter. California Public Employees Retirement System owned 0.21% of Ingredion worth $14,856,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its position in shares of Ingredion by 254.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 652,183 shares of the company’s stock valued at $20,402,000 after buying an additional 468,332 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in shares of Ingredion by 0.7% in the first quarter. Treasurer of the State of North Carolina now owns 28,656 shares of the company’s stock worth $2,915,000 after purchasing an additional 210 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Ingredion by 534.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 122,572 shares of the company’s stock valued at $12,987,000 after purchasing an additional 103,263 shares during the period. Independent Advisor Alliance purchased a new stake in shares of Ingredion during the 1st quarter valued at approximately $1,158,000. Finally, AMG National Trust Bank boosted its holdings in Ingredion by 8.6% in the 1st quarter. AMG National Trust Bank now owns 11,484 shares of the company’s stock worth $1,168,000 after buying an additional 909 shares during the period. Hedge funds and other institutional investors own 84.80% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the company. Stephens restated an “overweight” rating and set a $130.00 target price on shares of Ingredion in a research report on Wednesday, November 8th. Oppenheimer initiated coverage on Ingredion in a report on Thursday, September 28th. They set an “outperform” rating and a $120.00 target price for the company. UBS Group increased their price target on shares of Ingredion from $132.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, November 13th. BMO Capital Markets reduced their price objective on shares of Ingredion from $125.00 to $117.00 and set a “market perform” rating for the company in a research note on Wednesday, August 9th. Finally, Barclays lowered their target price on shares of Ingredion from $118.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Ingredion presently has an average rating of “Moderate Buy” and a consensus target price of $120.50.
Insider Activity at Ingredion
In other Ingredion news, SVP David Eric Seip purchased 3,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was acquired at an average cost of $98.50 per share, with a total value of $295,500.00. Following the completion of the purchase, the senior vice president now directly owns 18,035 shares of the company’s stock, valued at approximately $1,776,447.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is owned by insiders.
Ingredion Stock Down 0.2 %
Shares of NYSE:INGR opened at $103.02 on Tuesday. The firm has a fifty day moving average of $96.87 and a 200 day moving average of $102.84. Ingredion Incorporated has a 52-week low of $89.54 and a 52-week high of $113.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.07 and a current ratio of 1.97. The firm has a market capitalization of $6.72 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.03 and a beta of 0.81.
Ingredion (NYSE:INGR – Get Free Report) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.95 by $0.38. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.12 billion. Ingredion had a return on equity of 18.48% and a net margin of 7.61%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 EPS. As a group, research analysts anticipate that Ingredion Incorporated will post 9.18 EPS for the current fiscal year.
Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces 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.
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