Covea Finance Grows Position in Ingredion Incorporated $INGR

Covea Finance increased its holdings in Ingredion Incorporated (NYSE:INGR) by 26.0% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 84,200 shares of the company’s stock after buying an additional 17,400 shares during the quarter. Covea Finance owned about 0.13% of Ingredion worth $10,282,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of INGR. Jump Financial LLC boosted its holdings in Ingredion by 474.2% in the first quarter. Jump Financial LLC now owns 11,501 shares of the company’s stock worth $1,555,000 after purchasing an additional 9,498 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Ingredion by 66.3% during the 2nd quarter. Nordea Investment Management AB now owns 722,933 shares of the company’s stock valued at $97,531,000 after buying an additional 288,201 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Ingredion by 16.2% in the 2nd quarter. Acadian Asset Management LLC now owns 510,181 shares of the company’s stock worth $69,176,000 after buying an additional 71,305 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Ingredion in the 2nd quarter worth $572,000. Finally, American Century Companies Inc. increased its position in Ingredion by 30.1% during the second quarter. American Century Companies Inc. now owns 322,995 shares of the company’s stock valued at $43,805,000 after acquiring an additional 74,662 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Ingredion Price Performance

Shares of NYSE:INGR opened at $111.02 on Friday. The company has a market capitalization of $7.05 billion, a P/E ratio of 11.07, a P/E/G ratio of 0.90 and a beta of 0.72. Ingredion Incorporated has a 1-year low of $102.31 and a 1-year high of $141.78. The firm’s 50 day simple moving average is $110.94 and its two-hundred day simple moving average is $122.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.75 and a quick ratio of 1.79.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.73 by $0.02. Ingredion had a net margin of 9.07% and a return on equity of 18.14%. 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 expect that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 20th. Stockholders of record on Friday, January 2nd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, January 2nd. Ingredion’s payout ratio is presently 32.70%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on INGR shares. Stephens dropped their target price on Ingredion from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ingredion in a report on Monday, December 15th. Zacks Research raised shares of Ingredion from a “strong sell” rating to a “hold” rating in a report on Monday. Industrial Alliance Securities set a $124.00 price target on shares of Ingredion in a research report on Thursday, November 6th. Finally, UBS Group cut their price objective on shares of Ingredion from $130.00 to $119.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $124.33.

Ingredion Profile

Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.

The company’s product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.