Ingredion Incorporated (NYSE:INGR) SVP Sells $282,171.59 in Stock

Ingredion Incorporated (NYSE:INGR) SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $119.11, for a total value of $282,171.59. Following the completion of the transaction, the senior vice president now directly owns 28,848 shares of the company’s stock, valued at $3,436,085.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Larry Fernandes also recently made the following trade(s):

• On Tuesday, February 20th, Larry Fernandes sold 2,369 shares of Ingredion stock. The stock was sold at an average price of $115.08, for a total transaction of $272,624.52.

Ingredion Stock Performance

Shares of NYSE INGR traded up $1.50 during mid-day trading on Thursday, hitting $119.95. 439,574 shares of the company were exchanged, compared to its average volume of 385,110. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 0.49. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.08 and a beta of 0.81. The stock has a 50 day simple moving average of $115.28 and a 200-day simple moving average of $109.37. Ingredion Incorporated has a 1-year low of $89.54 and a 1-year high of $120.00.

Ingredion (NYSE:INGR) last issued its earnings results on Wednesday, May 8th. The company reported $2.08 earnings per share for the quarter, meeting the consensus estimate of $2.08. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $2.02 billion. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.80 earnings per share. On average, sell-side analysts forecast that Ingredion Incorporated will post 9.62 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st were issued a $0.78 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.12 annualized dividend and a dividend yield of 2.60%. Ingredion’s dividend payout ratio is currently 32.50%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on INGR shares. Stephens reissued an “overweight” rating and issued a $130.00 price target on shares of Ingredion in a research report on Wednesday, February 7th. StockNews.com upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. The Goldman Sachs Group upgraded Ingredion from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $122.00 to $135.00 in a research note on Thursday, February 15th. Barclays raised their target price on shares of Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. Finally, BMO Capital Markets upped their price target on shares of Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $127.17.

Institutional Trading of Ingredion

Institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Ingredion by 7.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,004 shares of the company’s stock valued at $394,000 after purchasing an additional 266 shares during the period. Brown Advisory Inc. grew its holdings in shares of Ingredion by 27.5% in the 3rd quarter. Brown Advisory Inc. now owns 2,426 shares of the company’s stock worth $239,000 after acquiring an additional 524 shares during the period. New York State Teachers Retirement System increased its stake in Ingredion by 5.9% in the 3rd quarter. New York State Teachers Retirement System now owns 93,195 shares of the company’s stock valued at $9,170,000 after purchasing an additional 5,201 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in Ingredion by 3.7% during the third quarter. Verdence Capital Advisors LLC now owns 3,731 shares of the company’s stock worth $367,000 after purchasing an additional 134 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ingredion by 31.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,096 shares of the company’s stock worth $1,387,000 after purchasing an additional 3,369 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

About Ingredion

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.