Zacks Investment Research upgraded shares of Ingredion (NYSE:INGR) from a hold rating to a buy rating in a research report sent to investors on Wednesday. They currently have $152.00 price target on the stock.
According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “
Other equities research analysts have also recently issued reports about the company. Credit Suisse Group set a $156.00 price objective on Ingredion and gave the stock a buy rating in a research note on Wednesday, January 10th. Jefferies Group set a $145.00 price objective on Ingredion and gave the stock a buy rating in a research note on Sunday, October 29th. BidaskClub raised Ingredion from a sell rating to a hold rating in a research note on Friday, November 3rd. BMO Capital Markets reaffirmed a hold rating and set a $125.00 price objective on shares of Ingredion in a research note on Friday, September 29th. Finally, Stephens raised Ingredion from an equal weight rating to an overweight rating in a research note on Wednesday, November 15th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Ingredion presently has a consensus rating of Buy and a consensus price target of $144.50.
Ingredion (NYSE:INGR) last released its earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.17. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.52 billion. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.96 earnings per share. analysts predict that Ingredion will post 7.73 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.76%. Ingredion’s dividend payout ratio (DPR) is presently 34.33%.
In related news, SVP Jorgen Kokke sold 20,674 shares of Ingredion stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $133.00, for a total transaction of $2,749,642.00. Following the completion of the sale, the senior vice president now directly owns 23,119 shares of the company’s stock, valued at $3,074,827. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.92% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. BB&T Corp grew its stake in Ingredion by 9.2% in the third quarter. BB&T Corp now owns 45,396 shares of the company’s stock valued at $5,476,000 after acquiring an additional 3,824 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Ingredion by 7.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 53,182 shares of the company’s stock valued at $6,702,000 after acquiring an additional 3,831 shares during the period. Alps Advisors Inc. acquired a new position in Ingredion in the third quarter valued at about $540,000. Commerzbank Aktiengesellschaft FI grew its stake in Ingredion by 30.6% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 3,408 shares of the company’s stock valued at $411,000 after acquiring an additional 798 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in Ingredion in the third quarter valued at about $473,000. 84.47% of the stock is owned by hedge funds and other institutional investors.
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Ingredion Company Profile
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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