Covea Finance Sells 8,100 Shares of Ingredion Incorporated (NYSE:INGR)

Covea Finance decreased its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 13.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,100 shares of the company's stock after selling 8,100 shares during the period. Covea Finance owned 0.08% of Ingredion worth $6,892,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in INGR. Pacer Advisors Inc. boosted its position in Ingredion by 92.4% during the second quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company's stock worth $202,332,000 after purchasing an additional 846,967 shares during the period. International Assets Investment Management LLC boosted its holdings in Ingredion by 55,219.9% in the 3rd quarter. International Assets Investment Management LLC now owns 174,811 shares of the company's stock worth $240,240,000 after buying an additional 174,495 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Ingredion by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company's stock worth $308,009,000 after buying an additional 125,543 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new position in Ingredion in the 3rd quarter valued at approximately $17,094,000. Finally, AQR Capital Management LLC raised its holdings in Ingredion by 55.7% during the 2nd quarter. AQR Capital Management LLC now owns 321,729 shares of the company's stock valued at $36,902,000 after acquiring an additional 115,147 shares during the period. Institutional investors own 85.27% of the company's stock.

Ingredion Price Performance

Shares of NYSE:INGR traded up $0.17 on Wednesday, hitting $132.93. The company's stock had a trading volume of 545,134 shares, compared to its average volume of 488,237. The company has a market capitalization of $8.66 billion, a PE ratio of 12.97, a PEG 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 company has a 50-day simple moving average of $142.00 and a 200 day simple moving average of $133.95. Ingredion Incorporated has a 1 year low of $107.20 and a 1 year high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.58 by $0.47. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the firm posted $2.33 earnings per share. Ingredion's quarterly revenue was down 8.0% on a year-over-year basis. Sell-side analysts forecast that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd will be given a $0.80 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $3.20 annualized dividend and a yield of 2.41%. Ingredion's dividend payout ratio (DPR) is presently 31.22%.

Insider Activity at Ingredion

In other news, CFO James D. Gray sold 54,869 shares of the business's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the sale, the chief financial officer now directly owns 12,795 shares in the company, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Fernandes sold 4,700 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the transaction, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,454,105.94. This represents a 13.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,692 shares of company stock valued at $9,634,868 over the last 90 days. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group raised 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 lifted their target price on Ingredion from $128.00 to $147.00 and gave the company a "market perform" rating in a report on Wednesday, November 6th. Stephens upgraded Ingredion to a "hold" rating in a research report on Monday, December 2nd. Barclays raised their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. Finally, Oppenheimer upped their target price on shares of Ingredion from $147.00 to $178.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $155.17.

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.