Vanguard Group Inc. Has $1 Billion Stock Position in Ingredion Incorporated (NYSE:INGR)

Vanguard Group Inc. increased its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,285,705 shares of the company's stock after acquiring an additional 84,863 shares during the period. Vanguard Group Inc. owned 11.18% of Ingredion worth $1,002,222,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC grew its holdings in Ingredion by 1.8% during 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. EverSource Wealth Advisors LLC boosted its holdings in shares of Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock worth $44,000 after buying an additional 79 shares during the period. Mindset Wealth Management LLC grew its stake in Ingredion by 2.1% in the 4th quarter. Mindset Wealth Management LLC now owns 3,914 shares of the company's stock valued at $538,000 after buying an additional 82 shares during the last quarter. Transcend Capital Advisors LLC raised its holdings in Ingredion by 2.1% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,318 shares of the company's stock worth $594,000 after acquiring an additional 90 shares during the period. Finally, Truist Financial Corp lifted its position in Ingredion by 1.3% during the 4th quarter. Truist Financial Corp now owns 6,854 shares of the company's stock worth $943,000 after acquiring an additional 90 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

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Ingredion Stock Performance

INGR traded down $0.56 on Wednesday, hitting $135.41. 49,917 shares of the stock traded hands, compared to its average volume of 449,292. The business has a fifty day moving average price of $131.58 and a two-hundred day moving average price of $136.49. 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 firm has a market capitalization of $8.69 billion, a PE ratio of 13.95, a P/E/G ratio of 1.03 and a beta of 0.75. Ingredion Incorporated has a 52 week low of $109.51 and a 52 week high of $155.44.

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

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Tuesday, April 1st. Ingredion's payout ratio is 32.96%.

Insider Activity

In related news, CEO James P. Zallie sold 10,815 shares of the firm's stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

INGR has been the topic of several research analyst reports. BMO Capital Markets lowered their price target on Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a research 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. StockNews.com downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Finally, Oppenheimer reduced their price objective on Ingredion from $178.00 to $167.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $158.20.

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.