Ingredion (NYSE:INGR) Price Target Raised to $147.00 at BMO Capital Markets

Ingredion (NYSE:INGR) had its price target increased by BMO Capital Markets from $128.00 to $147.00 in a report released on Wednesday,Benzinga reports. They currently have a market perform rating on the stock.

Several other research analysts also recently commented on the stock. Oppenheimer lifted their price target on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Barclays lifted their price objective on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, UBS Group increased their target price on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Ingredion presently has a consensus rating of “Moderate Buy” and an average target price of $151.00.

Ingredion Price Performance

NYSE INGR traded up $0.80 during trading on Wednesday, reaching $151.32. The company’s stock had a trading volume of 93,965 shares, compared to its average volume of 377,395. The stock has a market capitalization of $9.85 billion, a PE ratio of 15.39, a P/E/G ratio of 1.21 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The firm has a fifty day moving average of $135.54 and a 200 day moving average of $124.93. Ingredion has a one year low of $100.01 and a one year high of $155.44.

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

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Tuesday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is currently 32.72%.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares in the company, valued at approximately $6,967,399.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO James P. Zallie sold 22,550 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares in the company, valued at $6,967,399.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,356 shares of company stock worth $3,400,709 in the last three months. Insiders own 1.80% of the company’s stock.

Institutional Trading of Ingredion

Large investors have recently modified their holdings of the company. Pacer Advisors Inc. lifted its position in shares of Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after purchasing an additional 846,967 shares during the period. Acadian Asset Management LLC lifted its stake in Ingredion by 177.8% during the 2nd quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock valued at $45,491,000 after acquiring an additional 253,949 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Ingredion by 55,219.9% in the third quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock worth $240,240,000 after buying an additional 174,495 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock valued at $308,009,000 after acquiring an additional 125,543 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Ingredion by 43.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 405,465 shares of the company’s stock valued at $47,303,000 after purchasing an additional 123,406 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.