Choreo LLC Invests $369,000 in Ingredion Incorporated (NYSE:INGR)

Choreo LLC bought a new stake in Ingredion Incorporated (NYSE:INGR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,690 shares of the company's stock, valued at approximately $369,000.

Several other institutional investors have also recently added to or reduced their stakes in INGR. SG Americas Securities LLC increased its stake in Ingredion by 222.6% during the third quarter. SG Americas Securities LLC now owns 3,810 shares of the company's stock worth $524,000 after acquiring an additional 2,629 shares during the last quarter. Brookstone Capital Management acquired a new stake in Ingredion during the third quarter worth about $213,000. Creative Planning increased its stake in Ingredion by 5.5% during the third quarter. Creative Planning now owns 11,203 shares of the company's stock worth $1,540,000 after acquiring an additional 584 shares during the last quarter. ZWJ Investment Counsel Inc. increased its stake in Ingredion by 0.6% during the third quarter. ZWJ Investment Counsel Inc. now owns 368,095 shares of the company's stock worth $50,587,000 after acquiring an additional 2,057 shares during the last quarter. Finally, Net Worth Advisory Group acquired a new stake in Ingredion during the third quarter worth about $614,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Stock Down 1.2 %

INGR traded down $1.55 on Friday, reaching $126.70. The company's stock had a trading volume of 506,544 shares, compared to its average volume of 568,262. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 1.04 and a beta of 0.74. 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 business's 50 day moving average is $135.61 and its 200 day moving average is $136.48.

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

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion's dividend payout ratio is currently 32.96%.

Insiders Place Their Bets

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on INGR shares. BMO Capital Markets dropped their price target 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. Barclays increased their target price on Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Oppenheimer lowered their target price on Ingredion from $178.00 to $167.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. UBS Group increased their target price on Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Finally, Stephens lowered their target price on Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Ingredion currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.20.

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.