Yacktman Asset Management LP Has $253.52 Million Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Yacktman Asset Management LP reduced its position in shares of Ingredion Incorporated (NYSE:INGR) by 14.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,844,704 shares of the company’s stock after selling 319,095 shares during the quarter. Ingredion comprises 2.6% of Yacktman Asset Management LP’s holdings, making the stock its 14th biggest position. Yacktman Asset Management LP’s holdings in Ingredion were worth $253,518,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in INGR. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Ingredion during the 2nd quarter worth about $26,000. EverSource Wealth Advisors LLC grew its holdings in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ingredion in the second quarter valued at approximately $33,000. Family Firm Inc. acquired a new stake in Ingredion in the second quarter worth $36,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Ingredion in the 2nd quarter valued at $36,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ingredion

In related news, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were 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 directly owns 52,159 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction that occurred on 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 directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,040,595.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,356 shares of company stock worth $3,400,709 over the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Ingredion Stock Performance

Shares of INGR opened at $134.04 on Tuesday. The stock has a market capitalization of $8.72 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.21 and a beta of 0.73. Ingredion Incorporated has a 12 month low of $95.07 and a 12 month high of $138.37. The firm has a fifty day simple moving average of $134.76 and a 200 day simple moving average of $124.46. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.34. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.98 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.32 EPS. Research analysts forecast that Ingredion Incorporated will post 10.05 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a yield of 2.39%. Ingredion’s dividend payout ratio is 32.72%.

Analyst Ratings Changes

INGR has been the topic of several research analyst reports. Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $122.00 to $145.00 in a research note on Friday, August 9th. BMO Capital Markets increased their target price on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Oppenheimer raised their target price on shares of Ingredion from $138.00 to $147.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, UBS Group raised their price objective on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ingredion has an average rating of “Moderate Buy” and an average target price of $138.83.

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.