Fmr LLC Sells 321,852 Shares of Ingredion Incorporated (NYSE:INGR)

Fmr LLC reduced its stake in shares of Ingredion Incorporated (NYSE:INGR) by 46.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 373,120 shares of the company’s stock after selling 321,852 shares during the quarter. Fmr LLC owned approximately 0.57% of Ingredion worth $51,278,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ingredion during the second quarter valued at about $33,000. Prospera Private Wealth LLC bought a new position in shares of Ingredion during the 3rd quarter worth approximately $41,000. Family Firm Inc. purchased a new stake in Ingredion during the second quarter valued at approximately $36,000. International Assets Investment Management LLC acquired a new stake in Ingredion in the second quarter valued at approximately $36,000. Finally, Abich Financial Wealth Management LLC purchased a new position in Ingredion in the second quarter worth $56,000. Institutional investors own 85.27% of the company’s stock.

Ingredion Trading Down 1.8 %

Ingredion stock opened at $145.23 on Friday. Ingredion Incorporated has a 52 week low of $104.68 and a 52 week high of $155.44. The stock has a 50-day moving average price of $140.76 and a 200 day moving average price of $129.59. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.28 and a beta of 0.74.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm earned $2.33 EPS. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. Sell-side analysts anticipate that Ingredion Incorporated will post 10.59 EPS for the current year.

Insiders Place Their Bets

In other Ingredion 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 sale, the chief financial officer now owns 12,795 shares in the company, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James P. Zallie sold 371 shares of Ingredion 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 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 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,197 shares of company stock valued at $9,702,315. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on INGR shares. Stephens raised Ingredion to a “hold” rating in a research report on Monday, December 2nd. Oppenheimer raised their price target on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. UBS Group upped their price objective on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Barclays lifted their target price on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets upped their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.17.

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.