Cibc World Market Inc. Acquires Shares of 60,976 Ingredion Incorporated $INGR

Cibc World Market Inc. bought a new stake in Ingredion Incorporated (NYSE:INGR) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 60,976 shares of the company’s stock, valued at approximately $5,775,000.

Several other hedge funds and other institutional investors also recently modified their holdings of INGR. BlackRock Inc. bought a new position in shares of Ingredion in the 2nd quarter valued at $618,834,000. First Trust Advisors LP lifted its position in shares of Ingredion by 53.1% during the 1st quarter. First Trust Advisors LP now owns 3,054,149 shares of the company’s stock worth $344,080,000 after buying an additional 1,059,324 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Ingredion by 22,036.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,037,106 shares of the company’s stock valued at $114,351,000 after buying an additional 1,032,421 shares in the last quarter. Equity Investment Corp acquired a new stake in Ingredion in the second quarter valued at about $82,499,000. Finally, Norges Bank bought a new position in Ingredion in the fourth quarter valued at about $85,310,000. Institutional investors own 85.27% of the company’s stock.

Ingredion Trading Down 1.1%

Shares of INGR stock opened at $104.92 on Wednesday. Ingredion Incorporated has a twelve month low of $94.44 and a twelve month high of $130.48. The stock’s fifty day simple moving average is $101.01 and its 200 day simple moving average is $107.05. The company has a quick ratio of 1.92, a current ratio of 2.80 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $6.62 billion, a P/E ratio of 11.44, a P/E/G ratio of 0.91 and a beta of 0.62.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, August 4th. The company reported $2.82 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the company earned $2.87 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. Ingredion has set its FY 2026 guidance at 10.300-10.900 EPS. As a group, sell-side analysts predict that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

Insider Activity

In related news, Director David B. Fischer sold 1,662 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $102.31, for a total value of $170,039.22. Following the completion of the transaction, the director owned 19,930 shares in the company, valued at $2,039,038.30. This trade represents a 7.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on INGR shares. UBS Group boosted their target price on Ingredion from $104.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Zacks Research upgraded shares of Ingredion from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Weiss Ratings lowered shares of Ingredion from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 8th. Barclays lowered their price objective on shares of Ingredion from $120.00 to $118.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 5th. Finally, Benchmark reissued a “buy” rating on shares of Ingredion in a research note on Tuesday, June 9th. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Ingredion currently has a consensus rating of “Hold” and a consensus target price of $121.29.

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.