Choreo LLC Takes Position in Ingredion Incorporated (NYSE:INGR)

Choreo LLC bought a new stake in shares of Ingredion Incorporated (NYSE:INGR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,690 shares of the company’s stock, valued at approximately $369,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ingredion by 124.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,214 shares of the company’s stock valued at $2,362,000 after buying an additional 9,535 shares in the last quarter. One Wealth Advisors LLC grew its holdings in shares of Ingredion by 30.3% during the 4th quarter. One Wealth Advisors LLC now owns 2,237 shares of the company’s stock worth $308,000 after purchasing an additional 520 shares in the last quarter. River Street Advisors LLC acquired a new position in Ingredion in the fourth quarter worth about $924,000. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Ingredion by 17.6% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,106 shares of the company’s stock valued at $290,000 after acquiring an additional 315 shares during the period. Finally, Precision Wealth Strategies LLC acquired a new position in shares of Ingredion in the 4th quarter worth approximately $562,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Trading Down 0.6 %

NYSE INGR opened at $127.88 on Thursday. The business’s 50-day moving average price is $136.80 and its two-hundred day moving average price is $136.39. Ingredion Incorporated has a 12 month low of $107.91 and a 12 month high of $155.44. The firm has a market capitalization of $8.33 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.04 and a beta of 0.74. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47.

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

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s payout ratio is 32.96%.

Analysts Set New Price Targets

Several analysts have weighed in on INGR shares. UBS Group boosted their price objective on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Barclays lifted their target price on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Oppenheimer decreased their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Finally, BMO Capital Markets cut their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Ingredion currently has an average rating of “Moderate Buy” and a consensus target price of $154.33.

Insider Buying and Selling

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of Ingredion stock in a transaction dated 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 of the company’s stock, valued at $4,083,922.44. This represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,992 shares of company stock valued at $8,913,841. 1.80% of the stock is owned by company insiders.

Ingredion 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.