Ingredion Inc. (INGR) Downgraded to Hold at Zacks Investment Research
Ingredion Inc. (NYSE:INGR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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 equities research analysts have also recently issued reports on the stock. Societe Generale assumed coverage on shares of Ingredion in a research note on Wednesday, September 7th. They issued a “hold” rating on the stock. Citigroup Inc. lifted their price target on shares of Ingredion from $140.00 to $154.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Finally, Jefferies Group reissued a “buy” rating and issued a $147.00 price target (up previously from $136.00) on shares of Ingredion in a research note on Friday, July 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $125.50.
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Ingredion (NYSE:INGR) traded up 0.74% on Wednesday, hitting $130.09. 500,968 shares of the stock traded hands. The company has a market capitalization of $9.39 billion, a PE ratio of 20.81 and a beta of 1.11. Ingredion has a 12 month low of $84.57 and a 12 month high of $140.00. The firm has a 50-day moving average price of $135.09 and a 200-day moving average price of $122.25.
Ingredion (NYSE:INGR) last posted its earnings results on Thursday, July 28th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.65 by $0.07. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Ingredion had a net margin of 7.94% and a return on equity of 21.01%. During the same period last year, the firm earned $1.53 earnings per share. Analysts forecast that Ingredion will post $6.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, October 3rd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.54%. This is a boost from Ingredion’s previous quarterly dividend of $0.45. Ingredion’s payout ratio is 28.99%.
In other news, VP Jack C. Fortnum sold 34,800 shares of Ingredion stock in a transaction on Monday, August 8th. The stock was sold at an average price of $134.54, for a total transaction of $4,681,992.00. Following the transaction, the vice president now owns 145,369 shares in the company, valued at approximately $19,557,945.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP James P. Zallie sold 16,900 shares of Ingredion stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $132.00, for a total value of $2,230,800.00. Following the transaction, the vice president now owns 48,008 shares in the company, valued at approximately $6,337,056. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Partners LLC raised its position in Ingredion by 1.5% in the second quarter. Advisor Partners LLC now owns 1,914 shares of the company’s stock valued at $248,000 after buying an additional 28 shares in the last quarter. Citizens Financial Group Inc RI raised its position in Ingredion by 1.8% in the second quarter. Citizens Financial Group Inc RI now owns 1,572 shares of the company’s stock valued at $204,000 after buying an additional 28 shares in the last quarter. Capital City Trust Co. FL raised its position in Ingredion by 1.6% in the second quarter. Capital City Trust Co. FL now owns 2,031 shares of the company’s stock valued at $263,000 after buying an additional 31 shares in the last quarter. Invictus RG raised its position in Ingredion by 6.9% in the second quarter. Invictus RG now owns 865 shares of the company’s stock valued at $112,000 after buying an additional 56 shares in the last quarter. Finally, Geneva Advisors LLC raised its position in Ingredion by 0.7% in the second quarter. Geneva Advisors LLC now owns 8,685 shares of the company’s stock valued at $1,124,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.
Ingredion Company Profile
Ingredion Incorporated (Ingredion) is a global ingredients solutions provider. The Company is engaged in the production and sale of starches and sweeteners for a range of industries. Its operations are classified into four segments: North America, South America, Asia Pacific, and Europe, Middle East and Africa (EMEA).
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