Brokerages Set Ingredion Incorporated (NYSE:INGR) Price Target at $124.33

Ingredion Incorporated (NYSE:INGR) has received an average recommendation of “Hold” from the seven brokerages that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $124.3333.

A number of research analysts recently issued reports on INGR shares. Barclays restated an “equal weight” rating and set a $124.00 price objective (down previously from $168.00) on shares of Ingredion in a report on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Ingredion in a report on Monday, December 29th. BMO Capital Markets dropped their price objective on Ingredion from $143.00 to $123.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. Oppenheimer set a $136.00 target price on Ingredion in a research note on Wednesday, October 22nd. Finally, Stephens decreased their price objective on Ingredion from $140.00 to $120.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th.

Ingredion Stock Up 0.6%

NYSE:INGR opened at $117.10 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 2.75 and a debt-to-equity ratio of 0.41. Ingredion has a 12-month low of $102.31 and a 12-month high of $141.78. The stock’s fifty day simple moving average is $111.47 and its 200-day simple moving average is $118.89. The firm has a market capitalization of $7.44 billion, a P/E ratio of 11.67, a P/E/G ratio of 0.93 and a beta of 0.72.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.02. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.90 billion. Ingredion had a return on equity of 18.14% and a net margin of 9.07%.Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. Equities research analysts expect that Ingredion will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in INGR. Nordea Investment Management AB boosted its position in shares of Ingredion by 66.3% in the second quarter. Nordea Investment Management AB now owns 722,933 shares of the company’s stock valued at $97,531,000 after acquiring an additional 288,201 shares during the period. Acadian Asset Management LLC raised its stake in Ingredion by 16.2% in the 2nd quarter. Acadian Asset Management LLC now owns 510,181 shares of the company’s stock worth $69,176,000 after purchasing an additional 71,305 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Ingredion by 2.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,369,448 shares of the company’s stock valued at $167,223,000 after purchasing an additional 29,433 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Ingredion by 65.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 25,155 shares of the company’s stock worth $3,392,000 after purchasing an additional 9,912 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Ingredion during the second quarter worth approximately $572,000. Institutional investors own 85.27% of the company’s stock.

Ingredion Company Profile

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.