Point72 Asset Management L.P. Sells 18,789 Shares of Ingredion Incorporated (NYSE:INGR)

Point72 Asset Management L.P. trimmed its stake in Ingredion Incorporated (NYSE:INGR) by 72.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,066 shares of the company’s stock after selling 18,789 shares during the period. Point72 Asset Management L.P.’s holdings in Ingredion were worth $971,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of INGR. IHT Wealth Management LLC purchased a new stake in Ingredion in the third quarter worth about $221,000. Benjamin Edwards Inc. bought a new position in shares of Ingredion in the 3rd quarter worth approximately $1,347,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Ingredion by 1,342.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,124 shares of the company’s stock valued at $567,000 after purchasing an additional 3,838 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Ingredion during the third quarter valued at approximately $692,000. Finally, Erste Asset Management GmbH purchased a new stake in Ingredion in the third quarter worth $673,000. Institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. UBS Group raised their price objective on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Stephens raised shares of Ingredion to a “hold” rating in a research report on Monday, December 2nd. Oppenheimer upped their price objective on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. BMO Capital Markets lifted their target price on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Finally, Barclays upped 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $155.17.

Ingredion Trading Up 0.8 %

NYSE:INGR opened at $143.90 on Wednesday. Ingredion Incorporated has a 52 week low of $105.74 and a 52 week high of $155.44. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.25 and a beta of 0.74. The company’s 50 day moving average price is $141.02 and its 200-day moving average price is $130.03. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.33 EPS. On average, equities research analysts forecast that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were 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 of the company’s stock, valued at $6,967,399.22. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Larry Fernandes sold 6,122 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the transaction, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,083,922.44. This trade represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,197 shares of company stock valued at $9,702,315. 1.80% of the stock is owned by insiders.

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.