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Axxcess Wealth Management LLC Takes $256,000 Position in Ingredion Incorporated (NYSE:INGR)

Ingredion logo with Consumer Staples background

Axxcess Wealth Management LLC bought a new stake in Ingredion Incorporated (NYSE:INGR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,892 shares of the company's stock, valued at approximately $256,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Ingredion by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 7,285,705 shares of the company's stock worth $1,002,222,000 after buying an additional 84,863 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Ingredion by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,182,434 shares of the company's stock worth $162,703,000 after purchasing an additional 14,741 shares during the period. Invesco Ltd. grew its stake in shares of Ingredion by 5.7% during the 4th quarter. Invesco Ltd. now owns 870,317 shares of the company's stock worth $119,721,000 after purchasing an additional 46,819 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Ingredion by 6.7% during the 1st quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company's stock worth $98,347,000 after purchasing an additional 45,631 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Ingredion by 22.6% during the 4th quarter. Northern Trust Corp now owns 717,526 shares of the company's stock worth $98,703,000 after purchasing an additional 132,151 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Analysis on INGR

Insiders Place Their Bets

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total value of $325,968.00. Following the completion of the sale, the senior vice president directly owned 31,996 shares of the company's stock, valued at approximately $4,345,696.72. This represents a 6.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by insiders.

Ingredion Stock Down 0.6%

Shares of INGR traded down $0.79 during mid-day trading on Thursday, reaching $134.57. 1,233,088 shares of the stock traded hands, compared to its average volume of 473,831. The company has a quick ratio of 1.86, a current ratio of 2.85 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $137.43 and a 200 day simple moving average of $133.73. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 1.08 and a beta of 0.72. Ingredion Incorporated has a 12-month low of $117.49 and a 12-month high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.53. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. Sell-side analysts expect 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, July 22nd. Investors of record on Tuesday, July 1st will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion's payout ratio is currently 33.76%.

About Ingredion

(Free Report)

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.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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