Corebridge Financial Inc. Cuts Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Corebridge Financial Inc. lessened its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 73,730 shares of the company's stock after selling 3,212 shares during the period. Corebridge Financial Inc. owned about 0.11% of Ingredion worth $10,142,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. bought a new stake in Ingredion in the 4th quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Ingredion during the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its stake in shares of Ingredion by 32.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock worth $44,000 after acquiring an additional 79 shares during the period. Crews Bank & Trust purchased a new position in shares of Ingredion during the fourth quarter valued at approximately $48,000. Finally, Millstone Evans Group LLC bought a new position in Ingredion during the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the 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 completion of the sale, the chief executive officer now owns 34,127 shares in the company, valued at approximately $4,295,906.76. This trade represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company's stock.

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Ingredion Stock Performance

NYSE INGR traded up $0.23 on Monday, hitting $135.22. 454,081 shares of the company traded hands, compared to its average volume of 450,833. The business's 50 day moving average price is $131.59 and its 200-day moving average price is $136.48. Ingredion Incorporated has a 52-week low of $109.51 and a 52-week high of $155.44. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 1.03 and a beta of 0.75.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.54 by $0.09. The firm had revenue of $1.80 billion for 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%. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 earnings per share. Equities analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.37%. Ingredion's dividend payout ratio (DPR) is presently 32.96%.

Analyst Ratings Changes

A number of equities research analysts have commented on INGR shares. StockNews.com downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Oppenheimer cut their price objective on Ingredion from $178.00 to $167.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Stephens lowered their target price on Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. Finally, BMO Capital Markets cut 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock 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.