Ingredion (NYSE:INGR) Stock Rating Lowered by Zacks Investment Research
According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “
Other research analysts have also issued reports about the stock. Stephens raised their target price on shares of Ingredion from $97.00 to $115.00 and gave the stock an overweight rating in a research note on Thursday, January 2nd. BMO Capital Markets raised their target price on shares of Ingredion from $90.00 to $104.00 and gave the stock a market perform rating in a research note on Wednesday. TheStreet raised shares of Ingredion from a c+ rating to a b- rating in a research note on Friday, December 27th. Finally, Credit Suisse Group raised their target price on shares of Ingredion from $77.00 to $94.00 and gave the stock a neutral rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $99.50.
Ingredion (NYSE:INGR) last released its earnings results on Tuesday, February 11th. The company reported $1.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.13. Ingredion had a net margin of 6.67% and a return on equity of 17.69%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the company posted $1.61 EPS. The business’s revenue was up .8% on a year-over-year basis. As a group, equities analysts forecast that Ingredion will post 6.53 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Thursday, January 2nd were issued a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.52 annualized dividend and a yield of 2.59%. Ingredion’s dividend payout ratio (DPR) is presently 36.42%.
In related news, SVP Elizabeth Adefioye sold 2,779 shares of Ingredion stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $89.31, for a total value of $248,192.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 2,780 shares of company stock valued at $248,282 in the last quarter. 0.56% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of INGR. BlackRock Inc. increased its holdings in Ingredion by 1.0% in the 2nd quarter. BlackRock Inc. now owns 7,450,448 shares of the company’s stock valued at $614,589,000 after purchasing an additional 72,014 shares during the last quarter. DNB Asset Management AS grew its stake in shares of Ingredion by 8.8% in the third quarter. DNB Asset Management AS now owns 18,350 shares of the company’s stock worth $1,500,000 after acquiring an additional 1,478 shares in the last quarter. Occidental Asset Management LLC grew its stake in shares of Ingredion by 32.4% in the third quarter. Occidental Asset Management LLC now owns 8,769 shares of the company’s stock worth $717,000 after acquiring an additional 2,148 shares in the last quarter. Boston Trust Walden Corp grew its stake in shares of Ingredion by 36.5% in the third quarter. Boston Trust Walden Corp now owns 4,505 shares of the company’s stock worth $368,000 after acquiring an additional 1,205 shares in the last quarter. Finally, Weybosset Research & Management LLC grew its stake in shares of Ingredion by 3.3% in the third quarter. Weybosset Research & Management LLC now owns 72,386 shares of the company’s stock worth $5,917,000 after acquiring an additional 2,325 shares in the last quarter. Hedge funds and other institutional investors own 86.12% of the company’s stock.
Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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