26,719 Shares in Ingredion Incorporated (NYSE:INGR) Acquired by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC acquired 26,719 shares of Ingredion Incorporated, valued at approximately $3.6 million, solidifying the company's strong institutional investor backing.
• Ingredion announced a quarterly dividend of $0.80 per share, representing an annualized yield of 2.5% and a payout ratio of 31.22%.
• Wall Street analysts have differing views on Ingredion's stock, with ratings ranging from "outperform" to "strong-buy" and an average price target of $151.40.

Cary Street Partners Financial LLC acquired a new stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 26,719 shares of the company's stock, valued at approximately $3,613,000.

Other institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. raised its position in Ingredion by 40.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock worth $38,000 after buying an additional 80 shares during the last quarter. Waverly Advisors LLC grew its stake in shares of Ingredion by 3.8% in the fourth quarter. Waverly Advisors LLC now owns 2,303 shares of the company's stock worth $317,000 after acquiring an additional 84 shares during the period. Retirement Guys Formula LLC grew its stake in shares of Ingredion by 5.7% in the first quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company's stock worth $212,000 after acquiring an additional 84 shares during the period. Hancock Whitney Corp raised its holdings in shares of Ingredion by 1.6% during the fourth quarter. Hancock Whitney Corp now owns 6,854 shares of the company's stock valued at $943,000 after purchasing an additional 108 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Ingredion by 4.3% in the first quarter. KBC Group NV now owns 2,624 shares of the company's stock worth $355,000 after purchasing an additional 109 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INGR has been the subject of a number of research reports. Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Oppenheimer reduced their price objective on Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, UBS Group raised their target price on Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $151.40.

Ingredion Stock Performance

Shares of NYSE:INGR traded up $0.08 during midday trading on Friday, hitting $126.35. The company had a trading volume of 345,997 shares, compared to its average volume of 512,299. Ingredion Incorporated has a 12-month low of $120.51 and a 12-month high of $155.44. The company has a fifty day moving average of $134.89 and a two-hundred day moving average of $133.28. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.01 and a beta of 0.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.78 by $0.09. Ingredion had a return on equity of 19.04% and a net margin of 9.24%. The business had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the business posted $2.87 earnings per share. The business's quarterly revenue was down 2.4% on a year-over-year basis. On average, equities research analysts expect that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, July 1st. Ingredion's dividend payout ratio is presently 31.22%.

Insider Buying and Selling at Ingredion

In other news, SVP Larry Fernandes sold 850 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $128.39, for a total transaction of $109,131.50. Following the sale, the senior vice president directly owned 31,171 shares in the company, valued at $4,002,044.69. This trade represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by 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.