Covestor Ltd Sells 171 Shares of Ingredion Incorporated (NYSE:INGR)

Covestor Ltd decreased its holdings in Ingredion Incorporated (NYSE:INGR) by 12.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,228 shares of the company’s stock after selling 171 shares during the quarter. Covestor Ltd’s holdings in Ingredion were worth $169,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BOK Financial Private Wealth Inc. bought a new position in Ingredion in the 4th quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Ingredion during the fourth quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Ingredion by 653.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock valued at $31,000 after acquiring an additional 196 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Ingredion by 32.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after acquiring an additional 79 shares during the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of Ingredion during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 10,815 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the completion of the sale, the chief executive officer now owns 34,127 shares of the company’s stock, valued at $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

Ingredion Stock Performance

Shares of NYSE INGR opened at $127.62 on Friday. 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 firm has a market cap of $8.19 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 1.03 and a beta of 0.72. The stock’s fifty day moving average price is $130.23 and its two-hundred day moving average price is $136.06. Ingredion Incorporated has a one year low of $109.51 and a one year high of $155.44.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating 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 the consensus estimate of $1.82 billion. During the same period in the prior year, the company posted $1.65 earnings per share. Ingredion’s revenue was down 6.3% compared to the same quarter last year. On average, equities analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Tuesday, April 1st. Ingredion’s dividend payout ratio (DPR) is currently 32.96%.

Analyst Ratings Changes

INGR has been the subject of several analyst reports. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Oppenheimer lowered their price objective on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. UBS Group reaffirmed a “neutral” rating and issued a $145.00 target price (down previously from $165.00) on shares of Ingredion in a research report on Monday. Stephens dropped their price target on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Finally, BMO Capital Markets cut their price objective on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $152.60.

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.