Navellier & Associates Inc. Reduces Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Navellier & Associates Inc. lessened its position in shares of Ingredion Incorporated (NYSE:INGR) by 4.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,536 shares of the company’s stock after selling 1,257 shares during the quarter. Navellier & Associates Inc.’s holdings in Ingredion were worth $3,922,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Ingredion in the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its stake in Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ingredion in the 2nd quarter valued at approximately $33,000. Prospera Private Wealth LLC acquired a new position in shares of Ingredion in the third quarter worth $41,000. Finally, Family Firm Inc. purchased a new position in Ingredion in the 2nd quarter valued at about $36,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ingredion

In other news, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the sale, the senior vice president now owns 29,034 shares in the company, valued at $4,454,105.94. This represents a 13.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the sale, the chief executive officer now owns 52,159 shares in the company, valued at approximately $6,967,399.22. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,178 shares of company stock valued at $4,982,857. Company insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

Shares of INGR stock opened at $142.37 on Thursday. The company has a market cap of $9.28 billion, a P/E ratio of 13.89, a PEG ratio of 1.22 and a beta of 0.73. The business has a 50 day moving average of $137.90 and a two-hundred day moving average of $127.17. Ingredion Incorporated has a 52 week low of $100.90 and a 52 week high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $2.33 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, analysts anticipate that Ingredion Incorporated will post 10.6 EPS for the current year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were paid a $0.80 dividend. This is a boost from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.25%. Ingredion’s dividend payout ratio is presently 31.22%.

Analysts Set New Price Targets

Several research firms have recently issued reports on INGR. BMO Capital Markets raised their price objective on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Oppenheimer lifted their price target on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. UBS Group increased their target price on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Barclays lifted their price target on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.17.

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.