Brokerages Set Ingredion Incorporated (NYSE:INGR) PT at $138.83

Shares of Ingredion Incorporated (NYSE:INGR - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $138.83.

Several research analysts recently weighed in on INGR shares. Barclays upgraded Ingredion from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. BMO Capital Markets raised their price objective on Ingredion from $120.00 to $128.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 7th. Oppenheimer upped their target price on shares of Ingredion from $138.00 to $147.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. StockNews.com cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, August 7th. Finally, UBS Group upped their price objective on shares of Ingredion from $141.00 to $148.00 and gave the stock a "buy" rating in a report on Thursday, August 15th.

Ingredion Trading Up 0.8 %

NYSE:INGR traded up $1.01 during trading hours on Friday, hitting $133.77. The company had a trading volume of 258,060 shares, compared to its average volume of 274,913. Ingredion has a 1 year low of $93.26 and a 1 year high of $138.37. The company has a market cap of $8.70 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.20 and a beta of 0.73. The company has a 50-day moving average of $134.74 and a 200 day moving average of $124.31. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.34. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the firm posted $2.32 earnings per share. Ingredion's quarterly revenue was down 9.2% on a year-over-year basis. Sell-side analysts expect that Ingredion will post 10.05 earnings per share for the current year.

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.39%. This is a boost from Ingredion's previous quarterly dividend of $0.78. Ingredion's payout ratio is 32.72%.

Insiders Place Their Bets

In other news, CEO James P. Zallie sold 371 shares of the company's stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the sale, the chief executive officer now owns 52,159 shares of the company's stock, valued at approximately $6,967,399.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares in the company, valued at $7,046,374.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James P. Zallie sold 371 shares of the firm's stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the sale, the chief executive officer now owns 52,159 shares in the company, valued at $6,967,399.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,356 shares of company stock worth $3,400,709 in the last ninety days. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ingredion

A number of institutional investors and hedge funds have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Ingredion in the 2nd quarter valued at $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company's stock valued at $27,000 after purchasing an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ingredion during the 2nd quarter worth approximately $33,000. Family Firm Inc. acquired a new position in Ingredion during the second quarter worth approximately $36,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Ingredion in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 85.27% of the company's stock.

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.