Ingredion (NYSE:INGR) Price Target Raised to $138.00

Ingredion (NYSE:INGR) had its price objective lifted by Oppenheimer from $126.00 to $138.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

INGR has been the subject of several other research reports. StockNews.com lowered Ingredion from a strong-buy rating to a buy rating in a research report on Wednesday. BMO Capital Markets lifted 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, May 9th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $135.33.

Ingredion Trading Up 2.7 %

Shares of INGR opened at $130.17 on Wednesday. Ingredion has a 1-year low of $89.54 and a 1-year high of $130.66. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.16 and a beta of 0.72. The firm’s 50-day moving average price is $117.43 and its 200-day moving average price is $115.70. The company has a current ratio of 2.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.34. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the firm posted $2.32 EPS. The business’s revenue was down 9.2% on a year-over-year basis. Sell-side analysts anticipate that Ingredion will post 9.7 EPS for the current year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Monday, July 1st. Ingredion’s dividend payout ratio is presently 31.26%.

Insider Activity at Ingredion

In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of Ingredion stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total value of $149,375.00. Following the completion of the transaction, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at $1,988,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO James P. Zallie sold 27,500 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the transaction, the chief executive officer now directly owns 52,197 shares of the company’s stock, valued at $6,073,642.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Robert A. Ritchie sold 1,195 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total value of $149,375.00. Following the sale, the senior vice president now directly owns 15,906 shares in the company, valued at $1,988,250. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,185 shares of company stock valued at $4,382,848. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Ingredion

Several hedge funds and other institutional investors have recently bought and sold shares of INGR. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Ingredion during the second quarter valued at approximately $26,000. Jones Financial Companies Lllp bought a new stake in Ingredion in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its stake in Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after buying an additional 118 shares during the last quarter. Family Firm Inc. bought a new position in shares of Ingredion during the 2nd quarter valued at $36,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Ingredion in the 2nd quarter worth $36,000. 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.