Ingredion Incorporated (NYSE:INGR) SVP Larry Fernandes Sells 2,369 Shares of Stock

Ingredion Incorporated (NYSE:INGR) SVP Larry Fernandes sold 2,369 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $119.11, for a total value of $282,171.59. Following the transaction, the senior vice president now owns 28,848 shares in the company, valued at $3,436,085.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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 value of $272,624.52.

Ingredion Stock Performance

INGR opened at $119.46 on Friday. Ingredion Incorporated has a 12-month low of $89.54 and a 12-month high of $120.00. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.08 and a beta of 0.81. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $115.32 and its 200 day moving average is $109.45.

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

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Thursday, March 28th. Ingredion’s payout ratio is currently 32.50%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Ingredion

Several institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new stake in shares of Ingredion in the fourth quarter valued at $25,000. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Ingredion by 63.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock worth $37,000 after buying an additional 147 shares during the period. Allworth Financial LP boosted its holdings in Ingredion by 414.1% during the 3rd quarter. Allworth Financial LP now owns 401 shares of the company’s stock valued at $39,000 after acquiring an additional 323 shares during the period. Blue Trust Inc. increased its stake in Ingredion by 40.2% in the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after purchasing an additional 103 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of Ingredion by 59.8% during the fourth quarter. National Bank of Canada FI now owns 425 shares of the company’s stock worth $47,000 after purchasing an additional 159 shares during the last quarter. Hedge funds and other 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.