Analysts Set Ingredion Incorporated (NYSE:INGR) PT at $152.20

Shares of Ingredion Incorporated (NYSE:INGR) have been given a consensus recommendation of “Hold” by the five ratings firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $152.20.

INGR has been the topic of several recent research reports. Oppenheimer lowered their price objective on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. BMO Capital Markets cut their price objective on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. UBS Group set a $155.00 target price on Ingredion in a report on Tuesday, April 22nd. Finally, Stephens reduced their target price on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total value of $1,361,392.20. Following the transaction, the chief executive officer now owns 34,127 shares in the company, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Ingredion

Institutional investors have recently modified their holdings of the stock. Barclays PLC raised its holdings in shares of Ingredion by 31.9% during the third quarter. Barclays PLC now owns 47,291 shares of the company’s stock worth $6,499,000 after acquiring an additional 11,432 shares in the last quarter. Fulcrum Equity Management increased its position in Ingredion by 18.2% in the 3rd quarter. Fulcrum Equity Management now owns 4,033 shares of the company’s stock worth $554,000 after purchasing an additional 620 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ingredion during the 3rd quarter worth about $149,000. Tidal Investments LLC lifted its holdings in shares of Ingredion by 0.5% during the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock valued at $2,720,000 after buying an additional 94 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Ingredion by 75.7% in the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock valued at $26,109,000 after buying an additional 83,708 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Price Performance

Shares of NYSE:INGR opened at $132.30 on Friday. The stock’s 50 day moving average price is $131.11 and its 200 day moving average price is $135.53. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.03 and a beta of 0.73. Ingredion has a 12 month low of $111.54 and a 12 month high of $155.44.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.09. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The company’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 earnings per share. Equities research analysts anticipate that Ingredion will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.42%. Ingredion’s dividend payout ratio is 32.96%.

About Ingredion

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.