Ingredion (NYSE:INGR) Price Target Raised to $178.00

Ingredion (NYSE:INGR) had its price objective upped by Oppenheimer from $147.00 to $178.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also issued reports on the company. BMO Capital Markets boosted their target price on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $122.00 to $145.00 in a research report on Friday, August 9th. Finally, UBS Group increased their price target on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.00.

Ingredion Trading Up 1.0 %

INGR opened at $151.55 on Wednesday. The business’s 50 day moving average price is $136.22 and its 200 day moving average price is $125.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. The stock has a market capitalization of $9.86 billion, a PE ratio of 15.50, a P/E/G ratio of 1.21 and a beta of 0.73. Ingredion has a one year low of $100.53 and a one year high of $155.44.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.47. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. Ingredion’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.33 EPS. As a group, equities research analysts expect that Ingredion will post 10.05 EPS for the current year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.11%. Ingredion’s payout ratio is currently 32.72%.

Insider Activity at Ingredion

In other news, CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,070.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO James P. Zallie sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $134.02, for a total value of $134,020.00. Following the transaction, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,070.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James P. Zallie sold 22,550 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,056 shares of company stock valued at $4,121,736 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of INGR. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Ingredion in the second quarter valued at $26,000. EverSource Wealth Advisors LLC increased its position in shares of Ingredion by 102.6% during 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. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ingredion in the 2nd quarter valued at about $33,000. Family Firm Inc. acquired a new stake in shares of Ingredion in the 2nd quarter valued at about $36,000. Finally, International Assets Investment Management LLC purchased a new position in Ingredion during the 2nd quarter worth approximately $36,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

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.