Burney Co. Lowers Position in Ingredion Incorporated (NYSE:INGR)

Burney Co. decreased its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,088 shares of the company's stock after selling 2,596 shares during the quarter. Burney Co.'s holdings in Ingredion were worth $2,581,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Ingredion by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 7,285,705 shares of the company's stock valued at $1,002,222,000 after acquiring an additional 84,863 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Ingredion by 1.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company's stock valued at $164,771,000 after acquiring an additional 22,333 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Ingredion by 42.9% in the first quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock valued at $162,840,000 after acquiring an additional 361,584 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Ingredion by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,182,434 shares of the company's stock valued at $162,703,000 after acquiring an additional 14,741 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Ingredion by 5.7% in the fourth quarter. Invesco Ltd. now owns 870,317 shares of the company's stock valued at $119,721,000 after acquiring an additional 46,819 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Ingredion Trading Up 0.3%

INGR traded up $0.36 during trading on Friday, hitting $133.10. The company's stock had a trading volume of 309,158 shares, compared to its average volume of 447,809. Ingredion Incorporated has a twelve month low of $118.85 and a twelve month high of $155.44. 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's fifty day moving average price is $136.91 and its 200-day moving average price is $133.64. The firm has a market capitalization of $8.56 billion, a P/E ratio of 14.04, a PEG ratio of 1.06 and a beta of 0.72.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.53. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. The company's revenue was down 3.7% compared to the same quarter last year. Analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Tuesday, July 1st. Ingredion's payout ratio is 33.76%.

Insider Buying and Selling at Ingredion

In other news, SVP Larry Fernandes sold 2,400 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total transaction of $325,968.00. Following the transaction, the senior vice president directly owned 31,996 shares of the company's stock, valued at $4,345,696.72. This represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Ingredion Company 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.