Point72 Asset Management L.P. Cuts Stock Position in Ingredion Incorporated (NYSE:INGR)

Point72 Asset Management L.P. decreased its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 72.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,066 shares of the company's stock after selling 18,789 shares during the period. Point72 Asset Management L.P.'s holdings in Ingredion were worth $971,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Pacer Advisors Inc. increased its stake in Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company's stock worth $202,332,000 after buying an additional 846,967 shares during the period. Acadian Asset Management LLC increased its position in shares of Ingredion by 177.8% during the second quarter. Acadian Asset Management LLC now owns 396,743 shares of the company's stock worth $45,491,000 after acquiring an additional 253,949 shares during the period. International Assets Investment Management LLC raised its stake in shares of Ingredion by 55,219.9% during the third quarter. International Assets Investment Management LLC now owns 174,811 shares of the company's stock valued at $240,240,000 after acquiring an additional 174,495 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company's stock valued at $308,009,000 after purchasing an additional 125,543 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in Ingredion in the third quarter worth approximately $17,094,000. 85.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. BMO Capital Markets upped their target price on Ingredion from $128.00 to $147.00 and gave the stock a "market perform" rating in a report on Wednesday, November 6th. Stephens raised shares of Ingredion to a "hold" rating in a research note on Monday, December 2nd. Oppenheimer raised their target price on shares of Ingredion from $147.00 to $178.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. UBS Group upped their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Finally, Barclays lifted their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Ingredion currently has an average rating of "Moderate Buy" and a consensus target price of $155.17.

Ingredion Stock Up 1.0 %

Shares of NYSE INGR traded up $1.49 during trading hours on Wednesday, hitting $145.38. 212,805 shares of the stock were exchanged, compared to its average volume of 390,013. The company has a market cap of $9.47 billion, a PE ratio of 14.04, a PEG ratio of 1.25 and a beta of 0.74. Ingredion Incorporated has a 12 month low of $105.74 and a 12 month high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $141.02 and a 200-day moving average price of $130.03.

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

Insider Transactions at Ingredion

In other Ingredion news, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction on 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James P. Zallie sold 371 shares of the firm's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the sale, the chief executive officer now directly owns 52,159 shares of the company's stock, valued at $6,967,399.22. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,197 shares of company stock valued at $9,702,315 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

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.