Westover Capital Advisors LLC Trims Position in Ingredion Incorporated (NYSE:INGR)

Westover Capital Advisors LLC lessened its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,424 shares of the company’s stock after selling 568 shares during the quarter. Ingredion makes up about 0.8% of Westover Capital Advisors LLC’s investment portfolio, making the stock its 27th biggest position. Westover Capital Advisors LLC’s holdings in Ingredion were worth $3,772,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Ingredion in the 4th quarter worth $27,000. Prospera Private Wealth LLC purchased a new position in shares of Ingredion in the 3rd quarter worth $41,000. Crews Bank & Trust purchased a new position in shares of Ingredion in the 4th quarter worth $48,000. Versant Capital Management Inc raised its position in shares of Ingredion by 431.0% in the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock worth $61,000 after buying an additional 362 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Ingredion in the 3rd quarter worth $86,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Oppenheimer lowered their price target on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Stephens lowered their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. BMO Capital Markets lowered their price target on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Barclays increased their price target on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, UBS Group increased their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Ingredion has a consensus rating of “Moderate Buy” and an average price target of $158.20.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the completion of the transaction, the chief executive officer now directly owns 34,127 shares in the company, valued at approximately $4,295,906.76. This trade represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Ingredion Stock Down 0.1 %

Shares of Ingredion stock opened at $130.43 on Tuesday. The business has a 50-day moving average of $132.71 and a 200-day moving average of $136.62. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The company has a market capitalization of $8.37 billion, a PE ratio of 13.43, a P/E/G ratio of 1.03 and a beta of 0.74. Ingredion Incorporated has a 1-year low of $109.51 and a 1-year high of $155.44.

Ingredion (NYSE:INGR) last announced its earnings results 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. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The company’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $1.65 earnings per share. As a group, equities analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.80 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 annualized dividend and a dividend yield of 2.45%. Ingredion’s dividend payout ratio is presently 32.96%.

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.