Larry Fernandes Sells 2,369 Shares of Ingredion Incorporated (NYSE:INGR) Stock

Ingredion Incorporated (NYSE:INGR) SVP Larry Fernandes sold 2,369 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $119.11, for a total transaction of $282,171.59. Following the completion of the sale, the senior vice president now owns 28,848 shares of the company’s stock, valued at approximately $3,436,085.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Larry Fernandes also recently made the following trade(s):

• On Tuesday, February 20th, Larry Fernandes sold 2,369 shares of Ingredion stock. The stock was sold at an average price of $115.08, for a total value of $272,624.52.

Ingredion Price Performance

Shares of INGR traded up $1.50 on Thursday, hitting $119.95. The company’s stock had a trading volume of 439,574 shares, compared to its average volume of 385,110. The company has a 50 day moving average price of $115.28 and a 200 day moving average price of $109.37. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $120.00. The company has a market capitalization of $7.87 billion, a PE ratio of 12.32, a PEG ratio of 1.08 and a beta of 0.81. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.92 and a quick ratio of 1.10.

Ingredion (NYSE:INGR) last announced its earnings results on Wednesday, May 8th. The company reported $2.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.08. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $2.02 billion. Ingredion had a return on equity of 18.57% and a net margin of 7.88%. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the company posted $2.80 earnings per share. On average, research analysts anticipate that Ingredion Incorporated will post 9.62 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Monday, April 1st were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Thursday, March 28th. Ingredion’s dividend payout ratio (DPR) is presently 32.50%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on INGR shares. Stephens reaffirmed an “overweight” rating and issued a $130.00 target price on shares of Ingredion in a research report on Wednesday, February 7th. StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. The Goldman Sachs Group raised shares of Ingredion from a “neutral” rating to a “buy” rating and increased their price target for the stock from $122.00 to $135.00 in a research report on Thursday, February 15th. BMO Capital Markets upped their price objective on Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Barclays boosted their price target on Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ingredion presently has a consensus rating of “Moderate Buy” and an average price target of $127.17.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Paradiem LLC grew its holdings in Ingredion by 64.2% during the 4th quarter. Paradiem LLC now owns 73,190 shares of the company’s stock worth $7,943,000 after acquiring an additional 28,617 shares during the period. Cutter & CO Brokerage Inc. increased its holdings in Ingredion by 2.9% in the third quarter. Cutter & CO Brokerage Inc. now owns 34,577 shares of the company’s stock valued at $3,402,000 after purchasing an additional 990 shares during the last quarter. Schroder Investment Management Group lifted its stake in Ingredion by 833.7% in the third quarter. Schroder Investment Management Group now owns 136,606 shares of the company’s stock valued at $13,442,000 after buying an additional 121,976 shares during the period. Equity Investment Corp boosted its holdings in Ingredion by 1.4% during the third quarter. Equity Investment Corp now owns 908,776 shares of the company’s stock worth $89,424,000 after buying an additional 12,427 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Ingredion by 73.0% during the 3rd quarter. Nordea Investment Management AB now owns 752,456 shares of the company’s stock worth $74,019,000 after buying an additional 317,509 shares during the period. 85.27% of the stock is currently owned by institutional investors.

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.