PharVision Advisers LLC Invests $257,000 in Ingredion Incorporated (NYSE:INGR)

PharVision Advisers LLC purchased a new position in Ingredion Incorporated (NYSE:INGR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,871 shares of the company’s stock, valued at approximately $257,000.

Several other institutional investors have also modified their holdings of INGR. Vanguard Group Inc. increased its position in Ingredion by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 7,285,705 shares of the company’s stock valued at $1,002,222,000 after acquiring an additional 84,863 shares during the period. Pacer Advisors Inc. boosted its stake in Ingredion by 16.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock valued at $260,056,000 after purchasing an additional 268,389 shares in the last quarter. Geode Capital Management LLC boosted its stake in Ingredion by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,182,434 shares of the company’s stock valued at $162,703,000 after purchasing an additional 14,741 shares in the last quarter. Invesco Ltd. boosted its stake in Ingredion by 5.7% during the 4th quarter. Invesco Ltd. now owns 870,317 shares of the company’s stock valued at $119,721,000 after purchasing an additional 46,819 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Ingredion by 11.9% during the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock valued at $115,930,000 after purchasing an additional 89,335 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Buying and Selling

In other news, SVP Larry Fernandes sold 2,400 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total transaction of $325,968.00. Following the completion of the transaction, the senior vice president now owns 31,996 shares of the company’s stock, valued at approximately $4,345,696.72. This trade represents a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INGR shares. BMO Capital Markets reduced their price objective on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Wall Street Zen upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a report on Monday. UBS Group set a $155.00 price objective on Ingredion in a report on Tuesday, April 22nd. Stephens cut their target price on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, Oppenheimer dropped their price objective on Ingredion from $167.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $152.20.

Ingredion Price Performance

Shares of NYSE INGR opened at $137.28 on Friday. The firm has a market cap of $8.83 billion, a PE ratio of 14.14, a PEG ratio of 1.03 and a beta of 0.73. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a 1-year low of $111.54 and a 1-year high of $155.44. The company has a fifty day moving average price of $132.84 and a 200 day moving average price of $135.86.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.53. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 EPS. Research analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.33%. Ingredion’s payout ratio is presently 33.76%.

Ingredion Profile

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.