BMO Capital Markets Cuts Ingredion (NYSE:INGR) Price Target to $123.00

Ingredion (NYSE:INGR) had its price objective lowered by BMO Capital Markets from $143.00 to $123.00 in a report released on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a market perform rating on the stock.

INGR has been the subject of several other reports. Wall Street Zen downgraded Ingredion from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. UBS Group reduced their target price on shares of Ingredion from $144.00 to $130.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Zacks Research lowered shares of Ingredion from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Oppenheimer set a $136.00 price objective on shares of Ingredion in a research report on Wednesday, October 22nd. Finally, Weiss Ratings cut Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $124.33.

Ingredion Stock Up 2.0%

Shares of NYSE:INGR opened at $108.53 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. The stock has a market cap of $6.97 billion, a P/E ratio of 10.59, a P/E/G ratio of 0.95 and a beta of 0.72. Ingredion has a 1-year low of $102.31 and a 1-year high of $152.22. The firm has a fifty day moving average price of $120.81 and a 200 day moving average price of $129.41.

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

Ingredion Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This is a positive change 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%. Ingredion’s payout ratio is 32.70%.

Insider Transactions at Ingredion

In other Ingredion news, CEO James P. Zallie sold 36,287 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $126.52, for a total value of $4,591,031.24. Following the completion of the transaction, the chief executive officer directly owned 50,129 shares in the company, valued at approximately $6,342,321.08. This represents a 41.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Ingredion

Institutional investors have recently added to or reduced their stakes in the stock. Jump Financial LLC grew its holdings in Ingredion by 474.2% during the 1st quarter. Jump Financial LLC now owns 11,501 shares of the company’s stock worth $1,555,000 after acquiring an additional 9,498 shares during the period. Jupiter Asset Management Ltd. increased its stake in shares of Ingredion by 38.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 342,190 shares of the company’s stock valued at $46,268,000 after acquiring an additional 94,575 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Ingredion by 66.3% during the 2nd quarter. Nordea Investment Management AB now owns 722,933 shares of the company’s stock valued at $97,531,000 after acquiring an additional 288,201 shares during the period. Brown Advisory Inc. boosted its stake in Ingredion by 8.4% during the first quarter. Brown Advisory Inc. now owns 2,318 shares of the company’s stock worth $313,000 after acquiring an additional 180 shares in the last quarter. Finally, Kera Capital Partners Inc. acquired a new stake in Ingredion in the second quarter worth $232,000. 85.27% of the stock is currently owned by 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.