Ingredion (NYSE:INGR) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Ingredion (NYSE:INGR) from a buy rating to a hold rating in a research note published on Thursday, January 18th.

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. “

Several other research analysts have also commented on INGR. BidaskClub lowered shares of Ingredion from a hold rating to a sell rating in a research note on Friday, September 22nd. BMO Capital Markets restated a hold rating and set a $125.00 price target on shares of Ingredion in a research note on Friday, September 29th. Jefferies Group set a $145.00 price target on shares of Ingredion and gave the company a buy rating in a research note on Sunday, October 29th. Credit Suisse Group reaffirmed an outperform rating and issued a $145.00 price objective (up from $140.00) on shares of Ingredion in a report on Thursday, November 2nd. Finally, Stephens raised shares of Ingredion from an equal weight rating to an overweight rating in a report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Ingredion currently has a consensus rating of Hold and a consensus price target of $146.00.

Shares of Ingredion (NYSE INGR) opened at $127.99 on Thursday. Ingredion has a 52-week low of $113.42 and a 52-week high of $146.28. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.52 and a quick ratio of 1.66. The stock has a market cap of $9,198.00, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.40 and a beta of 0.71.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.01). The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.43 billion. Ingredion had a net margin of 8.63% and a return on equity of 20.42%. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.67 EPS. equities research analysts anticipate that Ingredion will post 8.3 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Tuesday, January 2nd were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Friday, December 29th. Ingredion’s dividend payout ratio is presently 33.95%.

In other news, SVP Jorgen Kokke sold 20,674 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $133.00, for a total value of $2,749,642.00. Following the completion of the sale, the senior vice president now directly owns 23,119 shares in the company, valued at $3,074,827. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Martin Sonntag sold 16,602 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $135.01, for a total transaction of $2,241,436.02. Following the completion of the sale, the senior vice president now owns 9,875 shares of the company’s stock, valued at $1,333,223.75. The disclosure for this sale can be found here. Insiders have sold 52,215 shares of company stock valued at $7,007,843 over the last 90 days. 1.92% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of INGR. Toronto Dominion Bank boosted its stake in Ingredion by 10.6% during the second quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock worth $113,000 after buying an additional 91 shares during the period. SeaCrest Wealth Management LLC purchased a new position in Ingredion during the fourth quarter worth about $114,000. Meeder Asset Management Inc. boosted its stake in Ingredion by 146.4% during the fourth quarter. Meeder Asset Management Inc. now owns 1,109 shares of the company’s stock worth $155,000 after buying an additional 659 shares during the period. WFG Advisors LP boosted its stake in Ingredion by 0.4% during the second quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock worth $164,000 after buying an additional 6 shares during the period. Finally, Fieldpoint Private Securities LLC purchased a new position in Ingredion during the third quarter worth about $173,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

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About Ingredion

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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