Cigna Investments Inc. New Sells 2,601 Shares of Ingredion Incorporated (INGR)
Cigna Investments Inc. New cut its stake in shares of Ingredion Incorporated (NYSE:INGR) by 19.1% during the second quarter, Holdings Channel reports. The institutional investor owned 11,049 shares of the company’s stock after selling 2,601 shares during the period. Cigna Investments Inc. New’s holdings in Ingredion were worth $1,323,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of Ingredion by 1,655.4% in the first quarter. BlackRock Inc. now owns 8,284,372 shares of the company’s stock valued at $997,686,000 after buying an additional 7,812,440 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ingredion by 0.3% in the first quarter. Vanguard Group Inc. now owns 6,407,053 shares of the company’s stock valued at $771,601,000 after buying an additional 20,051 shares during the last quarter. Wellington Management Group LLP boosted its position in Ingredion by 39.7% in the first quarter. Wellington Management Group LLP now owns 1,524,557 shares of the company’s stock worth $183,602,000 after buying an additional 433,572 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Ingredion by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 1,052,129 shares of the company’s stock worth $126,709,000 after buying an additional 14,478 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Ingredion by 0.3% in the first quarter. JPMorgan Chase & Co. now owns 950,039 shares of the company’s stock worth $114,412,000 after buying an additional 2,852 shares during the last quarter. 84.12% of the stock is owned by institutional investors.
Ingredion Incorporated (NYSE INGR) opened at 122.93 on Thursday. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 18.49 and a beta of 0.60. The stock’s 50 day moving average price is $119.93 and its 200-day moving average price is $120.04. Ingredion Incorporated has a 12 month low of $113.07 and a 12 month high of $140.00.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.03. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company posted $1.53 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. Equities analysts anticipate that Ingredion Incorporated will post $7.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Friday, June 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.00 annualized dividend and a dividend yield of 1.63%. Ingredion’s dividend payout ratio is presently 30.08%.
A number of research firms have issued reports on INGR. BidaskClub cut Ingredion from a “sell” rating to a “strong sell” rating in a report on Wednesday. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a report on Friday, August 4th. BMO Capital Markets restated a “hold” rating and set a $125.00 price target on shares of Ingredion in a report on Tuesday, June 27th. Finally, Jefferies Group LLC restated a “buy” rating and set a $145.00 price target on shares of Ingredion in a report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $140.50.
Ingredion Company Profile
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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