Ingredion (NYSE:INGR) Given New $133.00 Price Target at BMO Capital Markets

Ingredion (NYSE:INGR) had its target price cut by BMO Capital Markets from $147.00 to $133.00 in a report published on Wednesday morning,Benzinga reports. They currently have a market perform rating on the stock.

Other equities analysts also recently issued reports about the company. Barclays raised 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. Oppenheimer raised their target price on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. UBS Group upped their price target on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Stephens raised shares of Ingredion to a “hold” rating in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Ingredion currently has an average rating of “Moderate Buy” and an average target price of $154.33.

Ingredion Price Performance

INGR opened at $126.32 on Wednesday. The company’s 50-day simple moving average is $138.40 and its two-hundred day simple moving average is $136.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The stock has a market capitalization of $8.23 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.11 and a beta of 0.74. Ingredion has a 52-week low of $107.40 and a 52-week high of $155.44.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.09. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, analysts predict that Ingredion will post 10.59 EPS for the current year.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were given a dividend of $0.80 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.53%. Ingredion’s payout ratio is currently 31.22%.

Insider Activity at Ingredion

In other news, SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $140.66, for a total value of $861,120.52. Following the transaction, the senior vice president now directly owns 29,034 shares in the company, valued at $4,083,922.44. The trade was a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James D. Gray sold 54,869 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the sale, the chief financial officer now owns 12,795 shares of the company’s stock, valued at $1,877,794.20. This represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,992 shares of company stock worth $8,913,841. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Ingredion during the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC bought a new stake in Ingredion in the 3rd quarter valued at $41,000. Crews Bank & Trust purchased a new stake in Ingredion in the 4th quarter worth $48,000. Versant Capital Management Inc boosted its holdings in shares of Ingredion by 431.0% during the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after purchasing an additional 362 shares during the last quarter. Finally, Concord Wealth Partners grew its position in shares of Ingredion by 82.6% during the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock valued at $68,000 after purchasing an additional 223 shares in the last quarter. 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.