Brokerages Set Ingredion Incorporated (NYSE:INGR) Price Target at $124.33

Shares of Ingredion Incorporated (NYSE:INGR) have earned a consensus recommendation of “Hold” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $124.3333.

A number of equities research analysts recently weighed in on INGR shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingredion in a research report on Monday, December 29th. UBS Group lowered their price target on shares of Ingredion from $130.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Barclays reiterated an “equal weight” rating and set a $124.00 price objective (down previously from $168.00) on shares of Ingredion in a research note on Thursday, November 6th. Wall Street Zen raised shares of Ingredion from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, BMO Capital Markets cut their price target on shares of Ingredion from $143.00 to $123.00 and set a “market perform” rating on the stock in a report on Wednesday, November 5th.

Institutional Investors Weigh In On Ingredion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vista Investment Management boosted its holdings in Ingredion by 0.8% in the second quarter. Vista Investment Management now owns 10,789 shares of the company’s stock worth $1,463,000 after acquiring an additional 89 shares in the last quarter. Teza Capital Management LLC boosted its stake in Ingredion by 4.2% in the 2nd quarter. Teza Capital Management LLC now owns 2,275 shares of the company’s stock worth $309,000 after purchasing an additional 92 shares in the last quarter. Amalgamated Bank boosted its stake in Ingredion by 0.3% in the 2nd quarter. Amalgamated Bank now owns 30,187 shares of the company’s stock worth $4,094,000 after purchasing an additional 93 shares in the last quarter. Truist Financial Corp grew its position in Ingredion by 1.8% during the 3rd quarter. Truist Financial Corp now owns 5,318 shares of the company’s stock worth $649,000 after purchasing an additional 93 shares during the last quarter. Finally, State of Michigan Retirement System increased its stake in Ingredion by 0.6% during the 2nd quarter. State of Michigan Retirement System now owns 15,488 shares of the company’s stock valued at $2,100,000 after purchasing an additional 100 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Price Performance

NYSE INGR opened at $109.74 on Friday. The company has a market cap of $6.97 billion, a PE ratio of 10.94, a P/E/G ratio of 0.88 and a beta of 0.72. The firm’s 50 day moving average price is $109.80 and its 200-day moving average price is $121.59. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.79 and a current ratio of 2.75. Ingredion has a 52-week low of $102.31 and a 52-week high of $141.78.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.02. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.90 billion. Ingredion had a return on equity of 18.14% and a net margin of 9.07%.Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. Sell-side analysts forecast that Ingredion will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 20th. Stockholders of record on Friday, January 2nd will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.0%. Ingredion’s dividend payout ratio (DPR) is presently 32.70%.

Ingredion Company Profile

Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.

The company’s product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.