Ingredion Inc. (NYSE:INGR) Given Average Recommendation of “Hold” by Brokerages
Ingredion Inc. (NYSE:INGR) has earned an average rating of “Hold” from the nine research firms that are currently covering the firm. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $124.33.
Several equities analysts recently issued reports on the company. Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $146.00 price objective on the stock in a research report on Thursday, September 22nd. Societe Generale started coverage on Ingredion in a report on Wednesday, September 7th. They set a “hold” rating on the stock. Jefferies Group reissued a “buy” rating and set a $147.00 price target (up from $136.00) on shares of Ingredion in a report on Friday, July 15th. Finally, Citigroup Inc. increased their price target on Ingredion from $140.00 to $154.00 and gave the company a “buy” rating in a report on Friday, July 29th.
In other Ingredion news, SVP Robert J. Stefansic sold 18,810 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $135.97, for a total value of $2,557,595.70. Following the completion of the sale, the senior vice president now owns 16,890 shares in the company, valued at approximately $2,296,533.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ilene S. Gordon sold 70,492 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $135.19, for a total value of $9,529,813.48. Following the completion of the sale, the chief executive officer now owns 188,430 shares of the company’s stock, valued at approximately $25,473,851.70. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the company. Mason Street Advisors LLC acquired a new stake in shares of Ingredion during the second quarter worth about $4,248,000. Sanctuary Wealth Advisors LLC raised its stake in shares of Ingredion by 2.7% in the second quarter. Sanctuary Wealth Advisors LLC now owns 30,270 shares of the company’s stock worth $3,917,000 after buying an additional 800 shares during the last quarter. Cohen & Steers Inc. raised its stake in shares of Ingredion by 43.5% in the second quarter. Cohen & Steers Inc. now owns 21,100 shares of the company’s stock worth $2,731,000 after buying an additional 6,400 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Ingredion by 26.7% in the second quarter. Public Employees Retirement System of Ohio now owns 34,870 shares of the company’s stock worth $4,513,000 after buying an additional 7,357 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in shares of Ingredion during the second quarter worth about $2,493,000. Institutional investors and hedge funds own 86.61% of the company’s stock.
Ingredion (NYSE:INGR) opened at 131.76 on Friday. The stock has a market capitalization of $9.51 billion, a PE ratio of 21.08 and a beta of 1.00. The stock has a 50 day moving average price of $134.05 and a 200 day moving average price of $123.99. Ingredion has a 12 month low of $84.57 and a 12 month high of $140.00.
Ingredion (NYSE:INGR) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by $0.07. The business earned $1.46 billion during the quarter, compared to the consensus estimate of $1.45 billion. Ingredion had a net margin of 7.94% and a return on equity of 21.01%. During the same period last year, the company posted $1.53 earnings per share. On average, equities research analysts forecast that Ingredion will post $6.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, October 3rd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.52%. This is a positive change from Ingredion’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, September 29th. Ingredion’s dividend payout ratio is 32.21%.
Ingredion Company Profile
Ingredion Incorporated (Ingredion) is a global ingredients solutions provider. The Company is engaged in the production and sale of starches and sweeteners for a range of industries. Its operations are classified into four segments: North America, South America, Asia Pacific, and Europe, Middle East and Africa (EMEA).
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