Ingredion Incorporated (NYSE:INGR) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lowered its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 13.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,255 shares of the company's stock after selling 3,530 shares during the quarter. DAVENPORT & Co LLC's holdings in Ingredion were worth $3,061,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Prospera Private Wealth LLC purchased a new position in Ingredion during the 3rd quarter valued at approximately $41,000. Crews Bank & Trust bought a new stake in Ingredion in the fourth quarter worth $48,000. Versant Capital Management Inc raised its stake in Ingredion by 431.0% during the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company's stock valued at $61,000 after purchasing an additional 362 shares in the last quarter. Concord Wealth Partners lifted its position in Ingredion by 82.6% during the third quarter. Concord Wealth Partners now owns 493 shares of the company's stock valued at $68,000 after purchasing an additional 223 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Ingredion in the 3rd quarter worth $86,000. Institutional investors own 85.27% of the company's stock.

Ingredion Stock Up 0.3 %

Shares of NYSE INGR traded up $0.44 during midday trading on Friday, reaching $127.83. 417,546 shares of the company's stock traded hands, compared to its average volume of 568,262. The company has a market cap of $8.33 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.04 and a beta of 0.74. Ingredion Incorporated has a one year low of $107.77 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. The stock's 50 day simple moving average is $137.62 and its 200-day simple moving average is $136.03.

Ingredion (NYSE:INGR - Get Free Report) last posted its 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 company had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. Ingredion's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.65 earnings per share. On average, analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently 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 report on Wednesday. StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday. UBS Group increased their price target on Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a report on Friday, November 15th. Barclays lifted their price objective on shares of Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. Finally, Oppenheimer reduced 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Ingredion currently has a consensus rating of "Moderate Buy" and a consensus target price of $154.33.

Insider Activity

In related news, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the transaction, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. The trade was a 81.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Larry Fernandes sold 6,122 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.66, for a total value of $861,120.52. Following the transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,083,922.44. This represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,992 shares of company stock valued at $8,913,841 in the last quarter. 1.80% of the stock is currently owned by company insiders.

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.