Proficio Capital Partners LLC Invests $3.63 Million in Ingredion Incorporated (NYSE:INGR)

Proficio Capital Partners LLC purchased a new stake in Ingredion Incorporated (NYSE:INGR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 26,412 shares of the company's stock, valued at approximately $3,633,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INGR. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Ingredion in the fourth quarter valued at about $27,000. Prospera Private Wealth LLC acquired a new stake in Ingredion in the 3rd quarter worth about $41,000. Crews Bank & Trust purchased a new stake in Ingredion during the 4th quarter worth approximately $48,000. Versant Capital Management Inc raised its holdings in shares of Ingredion by 431.0% during the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company's stock valued at $61,000 after acquiring an additional 362 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Ingredion in the third quarter valued at approximately $86,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Transactions at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the sale, the chief executive officer now owns 34,127 shares in the company, valued at $4,295,906.76. This represents a 24.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.80% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. BMO Capital Markets reduced their price objective on Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Stephens reduced their target price on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. StockNews.com lowered shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Finally, Oppenheimer decreased their target price on shares of Ingredion from $178.00 to $167.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingredion currently has an average rating of "Moderate Buy" and a consensus price target of $158.20.

Ingredion Trading Down 1.1 %

Shares of NYSE:INGR traded down $1.44 during mid-day trading on Friday, reaching $130.32. 3,519,934 shares of the company were exchanged, compared to its average volume of 433,813. Ingredion Incorporated has a 1 year low of $109.51 and a 1 year high of $155.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The firm's 50-day simple moving average is $131.52 and its 200 day simple moving average is $136.51. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 1.03 and a beta of 0.75.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.54 by $0.09. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.82 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The company's revenue was down 6.3% on a year-over-year basis. Equities research analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be paid a $0.80 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.46%. Ingredion's dividend payout ratio (DPR) is 32.96%.

About Ingredion

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.