Wells Fargo & Company MN Sells 7,480 Shares of Ingredion Incorporated (NYSE:INGR)

Wells Fargo & Company MN trimmed its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,909 shares of the company's stock after selling 7,480 shares during the quarter. Wells Fargo & Company MN owned 0.23% of Ingredion worth $20,759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. bought a new position in Ingredion during the fourth quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Ingredion during the fourth quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Ingredion by 653.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock valued at $31,000 after purchasing an additional 196 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after purchasing an additional 79 shares during the period. Finally, Crews Bank & Trust acquired a new stake in Ingredion during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

INGR has been the subject of several research reports. Oppenheimer lowered their price objective on shares of Ingredion from $178.00 to $167.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. UBS Group restated a "neutral" rating and issued a $145.00 target price (down previously from $165.00) on shares of Ingredion in a research note on Monday, April 7th. BMO Capital Markets lowered their price objective on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. StockNews.com cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Finally, Stephens lowered their price target on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $152.60.

Ingredion Stock Performance

Shares of Ingredion stock traded up $1.48 during trading on Friday, hitting $129.59. 427,913 shares of the stock were exchanged, compared to its average volume of 458,774. Ingredion Incorporated has a 1-year low of $111.49 and a 1-year high of $155.44. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 1.03 and a beta of 0.72. The company has a fifty day moving average price of $130.48 and a 200-day moving average price of $135.82. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.54 by $0.09. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the company posted $1.65 EPS. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities 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 will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.80 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 annualized dividend and a yield of 2.47%. Ingredion's dividend payout ratio (DPR) is presently 32.96%.

Insider Activity

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total value of $1,361,392.20. Following the completion of the sale, the chief executive officer now owns 34,127 shares of the company's stock, valued at $4,295,906.76. The trade was a 24.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is owned by company insiders.

About Ingredion

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.