Ingredion Incorporated (INGR) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research cut shares of Ingredion Incorporated (NYSE:INGR) from a buy rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “
A number of other analysts have also issued reports on INGR. BMO Capital Markets reissued a hold rating and issued a $125.00 price target on shares of Ingredion in a research report on Friday, September 29th. BidaskClub lowered shares of Ingredion from a hold rating to a sell rating in a research report on Friday, September 22nd. Finally, Jefferies Group LLC reissued a buy rating and issued a $145.00 price target on shares of Ingredion in a research report on Wednesday, June 14th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $140.00.
Shares of Ingredion (NYSE:INGR) opened at 123.15 on Wednesday. The stock’s 50 day moving average is $122.92 and its 200-day moving average is $120.46. The stock has a market capitalization of $8.83 billion, a P/E ratio of 18.52 and a beta of 0.59. Ingredion has a one year low of $113.07 and a one year high of $137.62.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.03. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm earned $1.53 earnings per share. The business’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts expect that Ingredion will post $7.60 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, October 2nd will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, September 29th. This is an increase from Ingredion’s previous quarterly dividend of $0.50. Ingredion’s dividend payout ratio (DPR) is 36.09%.
In other Ingredion news, VP James P. Zallie sold 21,862 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $125.04, for a total transaction of $2,733,624.48. Following the transaction, the vice president now owns 29,306 shares in the company, valued at $3,664,422.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP James P. Zallie sold 3,048 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $125.00, for a total value of $381,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,882 shares of company stock worth $6,622,034. Corporate insiders own 1.92% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. National Pension Service boosted its position in shares of Ingredion by 108.9% in the second quarter. National Pension Service now owns 894 shares of the company’s stock valued at $105,000 after acquiring an additional 466 shares during the period. Toronto Dominion Bank boosted its position in shares of Ingredion by 10.6% in the second quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock valued at $113,000 after acquiring an additional 91 shares during the period. Global X Management Co. LLC boosted its position in shares of Ingredion by 30.0% in the first quarter. Global X Management Co. LLC now owns 1,325 shares of the company’s stock valued at $160,000 after acquiring an additional 306 shares during the period. WFG Advisors LP boosted its position in shares of Ingredion by 0.4% in the second quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock valued at $164,000 after acquiring an additional 6 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of Ingredion by 3.3% in the first quarter. Pacer Advisors Inc. now owns 1,390 shares of the company’s stock valued at $167,000 after acquiring an additional 44 shares during the period. 83.93% of the stock is owned by institutional investors.
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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