Principal Financial Group Inc. Reduces Position in Ingredion Incorporated $INGR

Principal Financial Group Inc. decreased its holdings in Ingredion Incorporated (NYSE:INGR) by 4.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 695,823 shares of the company’s stock after selling 29,743 shares during the period. Principal Financial Group Inc. owned approximately 1.08% of Ingredion worth $84,968,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Integrated Wealth Concepts LLC grew its position in shares of Ingredion by 32.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,082 shares of the company’s stock valued at $281,000 after purchasing an additional 514 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Ingredion by 63.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,694 shares of the company’s stock valued at $499,000 after purchasing an additional 1,440 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Ingredion by 9.0% in the first quarter. NewEdge Advisors LLC now owns 9,687 shares of the company’s stock valued at $1,310,000 after purchasing an additional 797 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Ingredion by 5.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 101,414 shares of the company’s stock valued at $13,712,000 after purchasing an additional 5,255 shares during the last quarter. Finally, Focus Partners Wealth boosted its holdings in Ingredion by 5.6% in the 1st quarter. Focus Partners Wealth now owns 3,636 shares of the company’s stock valued at $492,000 after purchasing an additional 192 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INGR. Industrial Alliance Securities set a $124.00 price target on shares of Ingredion in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ingredion in a research report on Monday, December 29th. Zacks Research upgraded Ingredion from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. UBS Group decreased their price target on Ingredion from $130.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Finally, BMO Capital Markets lowered their price target on Ingredion from $143.00 to $123.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $124.33.

Ingredion Stock Performance

Shares of Ingredion stock opened at $117.38 on Tuesday. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 0.94 and a beta of 0.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.75 and a quick ratio of 1.79. The business has a 50-day moving average of $111.91 and a 200 day moving average of $118.42. Ingredion Incorporated has a 12 month low of $102.31 and a 12 month high of $141.78.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.60 by ($0.07). Ingredion had a return on equity of 18.14% and a net margin of 9.07%.The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.78 billion. As a group, sell-side analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 20th. Shareholders of record on Friday, January 2nd were given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, January 2nd. Ingredion’s dividend payout ratio (DPR) is currently 32.70%.

About Ingredion

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.