Ingredion Incorporated $INGR Position Trimmed by Geode Capital Management LLC

Geode Capital Management LLC decreased its holdings in Ingredion Incorporated (NYSE:INGR) by 0.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,235,199 shares of the company’s stock after selling 7,698 shares during the quarter. Geode Capital Management LLC’s holdings in Ingredion were worth $167,543,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Ingredion during the 1st quarter worth $32,000. Hantz Financial Services Inc. lifted its holdings in shares of Ingredion by 810.7% during the second quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $35,000 after purchasing an additional 227 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Ingredion in the 2nd quarter valued at $40,000. Costello Asset Management INC purchased a new position in Ingredion in the 1st quarter worth about $41,000. Finally, SouthState Corp acquired a new stake in Ingredion during the 1st quarter worth about $41,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Ratings Changes

INGR has been the subject of several recent analyst reports. Zacks Research cut shares of Ingredion from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Oppenheimer set a $136.00 price objective on shares of Ingredion in a research note on Wednesday, October 22nd. BMO Capital Markets lowered their price objective on shares of Ingredion from $143.00 to $123.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 5th. Stephens reduced their target price on Ingredion from $140.00 to $120.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Finally, Wall Street Zen cut Ingredion from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $124.33.

Ingredion Stock Up 0.4%

Ingredion stock opened at $107.47 on Wednesday. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. Ingredion Incorporated has a 1-year low of $102.31 and a 1-year high of $150.00. The firm’s fifty day simple moving average is $117.96 and its 200-day simple moving average is $128.23. The company has a market capitalization of $6.83 billion, a P/E ratio of 10.48, a P/E/G ratio of 0.95 and a beta of 0.72.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, November 4th. The company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.73 by $0.02. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.90 billion. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. Sell-side analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st were issued a $0.82 dividend. This is an increase from Ingredion’s previous quarterly dividend of $0.80. The ex-dividend date was Wednesday, October 1st. This represents a $3.28 annualized dividend and a yield of 3.1%. Ingredion’s dividend payout ratio is presently 32.70%.

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.