Ingredion Incorporated (NYSE:INGR) Receives $137.33 Consensus Target Price from Analysts

Shares of Ingredion Incorporated (NYSE:INGR) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $137.33.

INGR has been the topic of a number of recent analyst reports. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Oppenheimer boosted their price target on shares of Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. UBS Group increased their price objective on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. BMO Capital Markets boosted their target price on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Finally, Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $122.00 to $145.00 in a research note on Friday, August 9th.

Ingredion Trading Down 0.9 %

Ingredion stock opened at $134.92 on Friday. The firm has a 50-day moving average price of $128.74 and a two-hundred day moving average price of $120.12. Ingredion has a 52-week low of $89.54 and a 52-week high of $137.21. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.23 and a beta of 0.73. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.34. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.32 EPS. Sell-side analysts expect that Ingredion will post 9.95 earnings per share for the current year.

Ingredion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a yield of 2.37%. Ingredion’s dividend payout ratio is currently 32.06%.

Insiders Place Their Bets

In other news, CEO James P. Zallie sold 22,550 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,046,374.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ingredion news, CEO James P. Zallie sold 22,550 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,046,374.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Robert A. Ritchie sold 1,195 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total transaction of $149,375.00. Following the completion of the transaction, the senior vice president now owns 15,906 shares of the company’s stock, valued at $1,988,250. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,045 shares of company stock worth $3,482,491. 1.80% of the stock is owned by insiders.

Institutional Trading of Ingredion

Hedge funds have recently modified their holdings of the business. Conscious Wealth Investments LLC lifted its stake in Ingredion by 0.4% in the 2nd quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock worth $2,967,000 after acquiring an additional 106 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares in the last quarter. Delphi Management Inc. MA boosted its holdings in shares of Ingredion by 0.8% during the second quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock worth $1,793,000 after purchasing an additional 123 shares during the period. Patrick M Sweeney & Associates Inc. grew its position in Ingredion by 6.3% during the first quarter. Patrick M Sweeney & Associates Inc. now owns 2,178 shares of the company’s stock valued at $255,000 after purchasing an additional 130 shares in the last quarter. Finally, STAR Financial Bank lifted its position in Ingredion by 3.8% in the 4th quarter. STAR Financial Bank now owns 3,581 shares of the company’s stock worth $389,000 after buying an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Company 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.