Bank of Jackson Hole Trust Takes $306,000 Position in Ingredion Incorporated (NYSE:INGR)

Bank of Jackson Hole Trust acquired a new stake in Ingredion Incorporated (NYSE:INGR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,224 shares of the company’s stock, valued at approximately $306,000.

Several other institutional investors and hedge funds have also modified their holdings of INGR. Hennessy Advisors Inc. acquired a new position in shares of Ingredion in the 4th quarter valued at about $58,642,000. Pacer Advisors Inc. increased its stake in shares of Ingredion by 16.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock valued at $260,056,000 after purchasing an additional 268,389 shares in the last quarter. International Assets Investment Management LLC increased its stake in Ingredion by 55,219.9% during the 3rd 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Ingredion during the 3rd quarter worth approximately $17,094,000. Finally, Franklin Resources Inc. increased its stake in Ingredion by 75.7% during the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock worth $26,109,000 after buying an additional 83,708 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity at Ingredion

In related news, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 12,795 shares in the company, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on INGR shares. Oppenheimer cut their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Barclays boosted their price objective on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. BMO Capital Markets cut their price objective on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Stephens cut their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Finally, StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.20.

Ingredion Trading Down 1.0 %

Shares of Ingredion stock opened at $125.52 on Wednesday. The stock has a market cap of $8.18 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.04 and a beta of 0.74. The stock’s 50 day simple moving average is $135.29 and its 200-day simple moving average is $136.50. Ingredion Incorporated has a 1-year low of $109.51 and a 1-year high of $155.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.09. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the firm posted $1.65 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Thursday, January 2nd. Ingredion’s dividend payout ratio is presently 32.96%.

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.