Ingredion Incorporated (NYSE:INGR) Receives $126.67 Consensus Target Price from Analysts

Shares of Ingredion Incorporated (NYSE:INGR) have been given an average rating of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $126.67.

A number of research analysts recently issued reports on the company. StockNews.com raised Ingredion from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Barclays boosted their target price on shares of Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. The Goldman Sachs Group raised shares of Ingredion from a “neutral” rating to a “buy” rating and increased their target price for the company from $122.00 to $135.00 in a research note on Thursday, February 15th. Finally, Stephens restated an “overweight” rating and issued a $130.00 price target on shares of Ingredion in a research report on Wednesday, February 7th.

Insider Activity at Ingredion

In other news, VP Davida Marie Gable sold 1,968 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $117.38, for a total value of $231,003.84. Following the completion of the sale, the vice president now owns 1,723 shares of the company’s stock, valued at $202,245.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Davida Marie Gable sold 1,968 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $117.38, for a total value of $231,003.84. Following the completion of the sale, the vice president now directly owns 1,723 shares of the company’s stock, valued at $202,245.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Larry Fernandes sold 2,369 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $115.08, for a total transaction of $272,624.52. Following the sale, the senior vice president now owns 28,966 shares of the company’s stock, valued at $3,333,407.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,921 shares of company stock worth $6,903,045. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ingredion

Several institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in Ingredion in the fourth quarter worth $25,000. Quarry LP acquired a new position in shares of Ingredion during the 2nd quarter valued at about $30,000. Cary Street Partners Investment Advisory LLC raised its stake in shares of Ingredion by 63.9% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock valued at $37,000 after acquiring an additional 147 shares in the last quarter. Allworth Financial LP lifted its holdings in Ingredion by 414.1% in the 3rd quarter. Allworth Financial LP now owns 401 shares of the company’s stock worth $39,000 after purchasing an additional 323 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Ingredion by 40.2% during the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after purchasing an additional 103 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Price Performance

Shares of INGR opened at $113.67 on Wednesday. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 1.05 and a beta of 0.81. The stock’s fifty day moving average is $114.93 and its 200-day moving average is $107.31. Ingredion has a one year low of $89.54 and a one year high of $118.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.92.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, February 6th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.87 by $0.10. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. Ingredion’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. Equities analysts anticipate that Ingredion will post 9.62 EPS for the current year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, March 28th. Ingredion’s dividend payout ratio (DPR) is currently 32.50%.

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.