Ingredion Incorporated (NYSE:INGR) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its holdings in Ingredion Incorporated (NYSE:INGR) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 150,909 shares of the company’s stock after selling 7,480 shares during the period. Wells Fargo & Company MN owned about 0.23% of Ingredion worth $20,759,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in INGR. Patriot Financial Group Insurance Agency LLC increased its holdings in Ingredion by 1.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company’s stock worth $572,000 after acquiring an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after purchasing an additional 79 shares in the last quarter. Mindset Wealth Management LLC raised its position in shares of Ingredion by 2.1% during the 4th quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company’s stock worth $538,000 after purchasing an additional 82 shares during the last quarter. Transcend Capital Advisors LLC lifted its stake in Ingredion by 2.1% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company’s stock valued at $594,000 after buying an additional 90 shares in the last quarter. Finally, Truist Financial Corp boosted its holdings in Ingredion by 1.3% in the 4th quarter. Truist Financial Corp now owns 6,854 shares of the company’s stock worth $943,000 after buying an additional 90 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Trading Up 1.9 %

Shares of INGR stock opened at $129.88 on Friday. Ingredion Incorporated has a twelve month low of $109.51 and a twelve month high of $155.44. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.03 and a beta of 0.72. The company’s 50-day moving average price is $130.28 and its 200-day moving average price is $136.02. 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 posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.09. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.65 EPS. As a group, equities analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Tuesday, April 1st. Ingredion’s dividend payout ratio is presently 32.96%.

Wall Street Analyst Weigh In

INGR has been the topic of several research reports. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Oppenheimer decreased their price objective on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. BMO Capital Markets dropped their target price on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. UBS Group reissued a “neutral” rating and issued a $145.00 price target (down from $165.00) on shares of Ingredion in a research note on Monday, April 7th. Finally, Stephens dropped their price objective on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.60.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the 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 transaction, the chief executive officer now owns 34,127 shares of the company’s stock, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

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.