BMO Capital Markets Issues Positive Forecast for Ingredion (NYSE:INGR) Stock Price

Ingredion (NYSE:INGR) had its price objective upped by BMO Capital Markets from $128.00 to $147.00 in a report released on Wednesday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

INGR has been the topic of a number of other reports. Barclays lifted their price objective on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday. Oppenheimer boosted their price target on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group boosted their price objective on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.00.

Ingredion Price Performance

Ingredion stock opened at $151.55 on Wednesday. The company has a current ratio of 2.67, a quick ratio of 1.51 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $9.86 billion, a PE ratio of 14.79, a P/E/G ratio of 1.29 and a beta of 0.73. Ingredion has a 12 month low of $100.53 and a 12 month high of $155.44. The stock has a 50-day moving average price of $136.22 and a two-hundred day moving average price of $125.44.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the company earned $2.33 earnings per share. Analysts expect that Ingredion will post 10.6 EPS for the current year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 annualized dividend and a yield of 2.11%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio is 31.22%.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 1,300 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,595.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO James P. Zallie sold 1,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $134.02, for a total transaction of $134,020.00. Following the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,070.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 1,300 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total value of $174,239.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,595.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,056 shares of company stock worth $4,121,736. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Ingredion

A number of institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its holdings in Ingredion by 5.7% during the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after purchasing an additional 85 shares in the last quarter. Seelaus Asset Management LLC increased its stake in Ingredion by 3.3% in the 3rd quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock worth $451,000 after acquiring an additional 105 shares during the last quarter. Conscious Wealth Investments LLC increased its stake in Ingredion by 0.4% in the 2nd quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock worth $2,967,000 after acquiring an additional 106 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares during the last quarter. Finally, Delphi Management Inc. MA increased its stake in Ingredion by 0.8% in the 2nd quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock worth $1,793,000 after acquiring an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.