Covea Finance Increases Stake in Ingredion Incorporated $INGR

Covea Finance lifted its stake in Ingredion Incorporated (NYSE:INGR) by 26.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 84,200 shares of the company’s stock after buying an additional 17,400 shares during the quarter. Covea Finance’s holdings in Ingredion were worth $10,282,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INGR. Vista Investment Management increased its holdings in Ingredion by 0.8% in the 2nd quarter. Vista Investment Management now owns 10,789 shares of the company’s stock valued at $1,463,000 after acquiring an additional 89 shares during the last quarter. Teza Capital Management LLC grew its position in shares of Ingredion by 4.2% during the second quarter. Teza Capital Management LLC now owns 2,275 shares of the company’s stock valued at $309,000 after purchasing an additional 92 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Ingredion by 0.3% in the second quarter. Amalgamated Bank now owns 30,187 shares of the company’s stock worth $4,094,000 after purchasing an additional 93 shares during the last quarter. State of Michigan Retirement System lifted its position in shares of Ingredion by 0.6% in the second quarter. State of Michigan Retirement System now owns 15,488 shares of the company’s stock worth $2,100,000 after buying an additional 100 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its position in shares of Ingredion by 41.2% in the first quarter. Bell Investment Advisors Inc now owns 346 shares of the company’s stock worth $47,000 after buying an additional 101 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Ingredion Stock Up 0.6%

Shares of INGR opened at $111.02 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.75 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average of $110.94 and a 200 day moving average of $122.97. The company has a market cap of $7.05 billion, a PE ratio of 11.07, a P/E/G ratio of 0.90 and a beta of 0.72. Ingredion Incorporated has a 52-week low of $102.31 and a 52-week high of $141.78.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.02. Ingredion had a net margin of 9.07% and a return on equity of 18.14%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. On average, sell-side analysts expect that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 20th. Investors of record on Friday, January 2nd will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, January 2nd. Ingredion’s dividend payout ratio is 32.70%.

Analysts Set New Price Targets

INGR has been the subject of several research analyst reports. Zacks Research upgraded Ingredion from a “strong sell” rating to a “hold” rating in a report on Monday. Weiss Ratings reissued a “hold (c+)” rating on shares of Ingredion in a report on Monday, December 15th. UBS Group decreased their price target on shares of Ingredion from $130.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. BMO Capital Markets lowered their price objective on shares of Ingredion from $143.00 to $123.00 and set a “market perform” rating for the company in a research report on Wednesday, November 5th. Finally, Wall Street Zen downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Ingredion has a consensus rating of “Hold” and an average price target of $124.33.

Ingredion Company Profile

Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.

The company’s product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.