Jupiter Asset Management Ltd. Reduces Stock Holdings in Ingredion Incorporated $INGR

Jupiter Asset Management Ltd. cut its position in shares of Ingredion Incorporated (NYSE:INGR) by 7.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317,150 shares of the company’s stock after selling 25,040 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.49% of Ingredion worth $43,012,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in INGR. Allianz Asset Management GmbH raised its position in shares of Ingredion by 42.9% during the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company’s stock valued at $162,840,000 after buying an additional 361,584 shares during the period. Millennium Management LLC raised its position in Ingredion by 1,093.5% in the first quarter. Millennium Management LLC now owns 365,693 shares of the company’s stock valued at $49,445,000 after purchasing an additional 335,052 shares during the period. Nordea Investment Management AB lifted its stake in shares of Ingredion by 66.3% in the 2nd quarter. Nordea Investment Management AB now owns 722,933 shares of the company’s stock valued at $97,531,000 after purchasing an additional 288,201 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Ingredion by 37.0% in the 1st quarter. Northern Trust Corp now owns 982,789 shares of the company’s stock valued at $132,883,000 after purchasing an additional 265,263 shares during the last quarter. Finally, Boston Partners increased its position in shares of Ingredion by 333.9% during the 1st quarter. Boston Partners now owns 273,851 shares of the company’s stock worth $36,868,000 after purchasing an additional 210,737 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

INGR has been the topic of a number of recent analyst reports. Industrial Alliance Securities set a $124.00 target price on shares of Ingredion in a research report on Thursday, November 6th. UBS Group decreased their price objective on shares of Ingredion from $130.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Wall Street Zen cut shares of Ingredion from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Stephens cut their target price on Ingredion from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Finally, Oppenheimer set a $136.00 price target on Ingredion in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $124.33.

Ingredion Stock Performance

Shares of INGR stock opened at $109.40 on Wednesday. The firm has a 50 day moving average of $119.99 and a two-hundred day moving average of $129.09. The stock has a market capitalization of $7.02 billion, a PE ratio of 10.67, a P/E/G ratio of 0.95 and a beta of 0.72. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.41. Ingredion Incorporated has a 52 week low of $102.31 and a 52 week high of $150.84.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.02. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. On average, research analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st were given a dividend of $0.82 per share. This is a boost from Ingredion’s previous quarterly dividend of $0.80. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, October 1st. 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.