Bank of Jackson Hole Trust Takes Position in Ingredion Incorporated (NYSE:INGR)

Bank of Jackson Hole Trust bought a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,224 shares of the company's stock, valued at approximately $306,000.

Other hedge funds also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC increased its stake in Ingredion by 1.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,162 shares of the company's stock valued at $572,000 after purchasing an additional 74 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Ingredion by 5.7% during the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company's stock worth $216,000 after acquiring an additional 85 shares in the last quarter. Truist Financial Corp grew its holdings in Ingredion by 1.3% in the fourth quarter. Truist Financial Corp now owns 6,854 shares of the company's stock valued at $943,000 after purchasing an additional 90 shares during the last quarter. Tidal Investments LLC increased its holdings in Ingredion by 0.5% during the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company's stock valued at $2,720,000 after acquiring an additional 94 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Ingredion by 0.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,383 shares of the company's stock worth $1,427,000 after purchasing an additional 97 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on INGR. Barclays boosted 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. Oppenheimer cut 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. UBS Group upped their price target on Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a report on Friday, November 15th. BMO Capital Markets dropped their price target on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Finally, StockNews.com lowered shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.20.

Ingredion Stock Performance

Ingredion stock traded up $1.71 during mid-day trading on Friday, hitting $128.07. 695,239 shares of the company's stock traded hands, compared to its average volume of 553,166. The company has a market cap of $8.35 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.04 and a beta of 0.74. The firm has a 50 day moving average price of $134.19 and a 200 day moving average price of $136.38. Ingredion Incorporated has a one year low of $109.51 and a one year high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47.

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

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion's dividend payout ratio (DPR) is presently 32.96%.

Insider Transactions at Ingredion

In other Ingredion news, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction on Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the sale, the chief financial officer now owns 12,795 shares of the company's stock, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James P. Zallie sold 10,815 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total value of $1,361,392.20. Following the completion of the transaction, the chief executive officer now owns 34,127 shares in the company, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,685 shares of company stock valued at $9,414,112 over the last ninety days. Corporate 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.