Ingredion Incorporated (NYSE:INGR) Stock Has Consensus Price Target of $120.29 According to Analysts

Ingredion Incorporated (NYSE:INGR) has been assigned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $120.29.

Several analysts recently weighed in on the stock. Zacks Research upgraded shares of Ingredion from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Weiss Ratings raised shares of Ingredion from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. UBS Group dropped their target price on shares of Ingredion from $108.00 to $104.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Finally, Barclays cut their target price on shares of Ingredion from $118.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 14th.

Ingredion Trading Up 2.0%

NYSE INGR opened at $98.89 on Thursday. Ingredion has a fifty-two week low of $93.30 and a fifty-two week high of $123.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.92 and a current ratio of 2.80. The stock has a 50 day simple moving average of $98.37 and a two-hundred day simple moving average of $105.67. The stock has a market cap of $6.24 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 0.81 and a beta of 0.65.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Ingredion had a return on equity of 15.40% and a net margin of 8.21%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the company earned $2.87 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, analysts forecast that Ingredion will post 10.62 earnings per share for the current year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 20th. Shareholders of record on Thursday, October 1st were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.82. Ingredion’s payout ratio is presently 36.21%.

Insider Buying and Selling at Ingredion

In other Ingredion news, Director David Fischer sold 1,662 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $102.31, for a total transaction of $170,039.22. Following the transaction, the director owned 19,930 shares in the company, valued at approximately $2,039,038.30. This represents a 7.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INGR. Fifth Third Wealth Advisors LLC raised its holdings in shares of Ingredion by 4.1% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,221 shares of the company’s stock worth $250,000 after acquiring an additional 88 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Ingredion by 4.1% in the first quarter. Venturi Wealth Management LLC now owns 2,429 shares of the company’s stock worth $274,000 after purchasing an additional 95 shares during the last quarter. Glenview Trust Co boosted its holdings in Ingredion by 4.1% during the 3rd quarter. Glenview Trust Co now owns 3,034 shares of the company’s stock valued at $291,000 after acquiring an additional 120 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Ingredion by 0.6% in the third quarter. Nisa Investment Advisors LLC now owns 24,795 shares of the company’s stock worth $2,376,000 after purchasing an additional 141 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Ingredion by 0.4% during the first quarter. Lazard Asset Management LLC now owns 32,525 shares of the company’s stock worth $3,664,000 after acquiring an additional 143 shares during the period. 85.27% of the stock is currently owned by institutional investors.

About Ingredion

Ingredion Incorporated (NYSE: INGR) is a global ingredient solutions provider that develops and produces starches, sweeteners, texturizers, fibers, plant-based proteins and other specialty ingredients. The company processes plant-based raw materials, including corn, tapioca, potato, rice and other grains, into ingredients used by manufacturers across a range of industries.

Ingredion’s products support food and beverage applications such as bakery products, dairy and alternative dairy, confectionery, beverages and prepared foods.