Ingredion Incorporated (NYSE:INGR) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC decreased its position in Ingredion Incorporated (NYSE:INGR) by 9.4% in the 4th quarter, HoldingsChannel reports. The firm owned 6,896 shares of the company’s stock after selling 712 shares during the period. New York Life Investment Management LLC’s holdings in Ingredion were worth $949,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC raised its stake in Ingredion by 195.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company’s stock valued at $1,595,000 after purchasing an additional 7,676 shares during the last quarter. State Street Corp grew its holdings in Ingredion by 0.8% in the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company’s stock valued at $334,862,000 after buying an additional 19,560 shares during the period. Franklin Resources Inc. grew its holdings in Ingredion by 75.7% in the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock valued at $26,109,000 after buying an additional 83,708 shares during the period. Principal Financial Group Inc. grew its holdings in Ingredion by 1.5% in the 3rd quarter. Principal Financial Group Inc. now owns 725,374 shares of the company’s stock valued at $99,683,000 after buying an additional 10,812 shares during the period. Finally, Fractal Investments LLC purchased a new stake in Ingredion in the 4th quarter valued at about $344,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on INGR shares. UBS Group lifted their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Oppenheimer lowered their price target on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Stephens lowered their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, Barclays lifted their price target on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.20.

Ingredion Stock Down 0.1 %

Shares of NYSE:INGR opened at $130.43 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. Ingredion Incorporated has a 1 year low of $109.51 and a 1 year high of $155.44. The stock has a market capitalization of $8.37 billion, a P/E ratio of 13.43, a PEG ratio of 1.03 and a beta of 0.74. The stock has a 50-day simple moving average of $132.71 and a 200-day simple moving average of $136.62.

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 analysts’ consensus estimates of $2.54 by $0.09. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the business earned $1.65 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 10,815 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the transaction, the chief executive officer now directly owns 34,127 shares of the company’s stock, valued at approximately $4,295,906.76. The trade was a 24.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

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.