Ingredion Incorporated (NYSE:INGR) Position Lifted by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. grew its stake in shares of Ingredion Incorporated (NYSE:INGR) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,672 shares of the company’s stock after acquiring an additional 193 shares during the period. Legacy Financial Advisors Inc.’s holdings in Ingredion were worth $398,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC lifted its stake in Ingredion by 63.9% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock worth $37,000 after purchasing an additional 147 shares during the last quarter. Allworth Financial LP raised its stake in Ingredion by 414.1% during the third quarter. Allworth Financial LP now owns 401 shares of the company’s stock worth $39,000 after acquiring an additional 323 shares during the period. Blue Trust Inc. lifted its holdings in Ingredion by 40.2% in the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after acquiring an additional 103 shares during the last quarter. Planned Solutions Inc. bought a new position in shares of Ingredion during the fourth quarter valued at approximately $96,000. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Ingredion in the 4th quarter worth approximately $101,000. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In other news, SVP Larry Fernandes sold 2,369 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $115.08, for a total value of $272,624.52. Following the completion of the sale, the senior vice president now owns 28,966 shares of the company’s stock, valued at $3,333,407.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO James P. Zallie sold 54,581 shares of Ingredion stock in a transaction on Monday, March 4th. The stock was sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the completion of the sale, the chief executive officer now owns 99,246 shares of the company’s stock, valued at $11,635,601.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $115.08, for a total value of $272,624.52. Following the completion of the transaction, the senior vice president now directly owns 28,966 shares in the company, valued at $3,333,407.28. The disclosure for this sale can be found here. Insiders have sold 58,921 shares of company stock worth $6,903,045 in the last three months. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in 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. Barclays lifted their price target on Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Finally, The Goldman Sachs Group upgraded Ingredion from a “neutral” rating to a “buy” rating and raised their target price for the company from $122.00 to $135.00 in a research report on Thursday, February 15th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.67.

Ingredion Price Performance

NYSE:INGR traded down $0.69 during midday trading on Friday, hitting $114.56. 200,871 shares of the stock were exchanged, compared to its average volume of 313,484. The business has a 50-day moving average price of $115.19 and a two-hundred day moving average price of $108.84. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 1.08 and a beta of 0.81. Ingredion Incorporated has a one year low of $89.54 and a one year high of $118.83.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.10. Ingredion had a return on equity of 18.57% and a net margin of 7.88%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the business posted $1.65 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis. Sell-side analysts predict that Ingredion Incorporated will post 9.62 EPS for the current year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Thursday, March 28th. Ingredion’s dividend payout ratio is presently 32.50%.

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.