Ingredion Incorporated (NYSE:INGR) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in shares of Ingredion Incorporated (NYSE:INGR) by 1.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,167,693 shares of the company’s stock after acquiring an additional 19,064 shares during the period. Geode Capital Management LLC’s holdings in Ingredion were worth $160,516,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Orion Portfolio Solutions LLC lifted its stake in Ingredion by 195.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company’s stock valued at $1,595,000 after buying an additional 7,676 shares in the last quarter. Point72 DIFC Ltd raised its holdings in shares of Ingredion by 2,629.3% during the second quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock valued at $438,000 after acquiring an additional 3,681 shares during the last quarter. State Street Corp lifted its position in shares of Ingredion by 0.8% in the third quarter. State Street Corp now owns 2,436,601 shares of the company’s stock valued at $334,862,000 after acquiring an additional 19,560 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Ingredion by 55.7% in the second quarter. AQR Capital Management LLC now owns 321,729 shares of the company’s stock worth $36,902,000 after acquiring an additional 115,147 shares during the last quarter. Finally, Bridges Investment Management Inc. purchased a new stake in shares of Ingredion during the second quarter worth approximately $528,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Stock Performance

Ingredion stock opened at $144.31 on Monday. The stock has a market cap of $9.40 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 1.24 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. The firm has a 50 day simple moving average of $141.59 and a 200-day simple moving average of $130.62. Ingredion Incorporated has a 1-year low of $105.78 and a 1-year high of $155.44.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the firm earned $2.33 earnings per share. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, analysts expect that Ingredion Incorporated will post 10.59 EPS for the current year.

Analyst Ratings Changes

INGR has been the topic of several recent research reports. BMO Capital Markets lifted their target price on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. UBS Group boosted their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Stephens upgraded shares of Ingredion to a “hold” rating in a report on Monday, December 2nd. Oppenheimer boosted their target price on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Barclays increased their price target on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.17.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the sale, the chief executive officer now owns 52,159 shares of the company’s stock, valued at $6,967,399.22. The trade was a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,454,105.94. This trade represents a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,198 shares of company stock worth $9,702,461. Company insiders own 1.80% of the company’s stock.

Ingredion 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.