JPMorgan Chase & Co. Lowers Position in Ingredion Incorporated $INGR

JPMorgan Chase & Co. trimmed its position in shares of Ingredion Incorporated (NYSE:INGR) by 12.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 425,333 shares of the company’s stock after selling 62,392 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.66% of Ingredion worth $57,685,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in INGR. Vanguard Group Inc. boosted its position in shares of Ingredion by 0.3% during the second quarter. Vanguard Group Inc. now owns 7,266,873 shares of the company’s stock valued at $985,533,000 after purchasing an additional 22,487 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Ingredion by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,755,683 shares of the company’s stock valued at $372,594,000 after buying an additional 177,387 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Ingredion by 10.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,340,015 shares of the company’s stock valued at $181,733,000 after buying an additional 121,387 shares in the last quarter. Northern Trust Corp grew its position in shares of Ingredion by 37.0% in the 1st quarter. Northern Trust Corp now owns 982,789 shares of the company’s stock worth $132,883,000 after buying an additional 265,263 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Ingredion by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 736,046 shares of the company’s stock worth $99,822,000 after acquiring an additional 8,681 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Stock Performance

Shares of INGR opened at $107.54 on Friday. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 10.49, a P/E/G ratio of 0.95 and a beta of 0.72. The business’s fifty day simple moving average is $115.13 and its two-hundred day simple moving average is $126.64. Ingredion Incorporated has a 12 month low of $102.31 and a 12 month high of $149.84. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.02. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.90 billion. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. Research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on INGR shares. Oppenheimer set a $136.00 price objective on shares of Ingredion in a research note on Wednesday, October 22nd. Stephens cut their price target on Ingredion from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Barclays reaffirmed an “equal weight” rating and set a $124.00 price objective (down previously from $168.00) on shares of Ingredion in a research report on Thursday, November 6th. Zacks Research downgraded Ingredion from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ingredion in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $124.33.

Ingredion Company 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.