Caisse DE Depot ET Placement DU Quebec Raises Stake in Ingredion Incorporated $INGR

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Ingredion Incorporated by 22.7%, purchasing an additional 120,743 shares to bring total holdings to 652,156 shares, valued at $88.18 million.
• The stock has been given a consensus rating of "Hold", with analysts updating target prices, including UBS's increase from $149.00 to $151.00.
• Insider trading reports indicate significant sales, with the CEO selling over 36,000 shares, reflecting a 41.99% decrease in their ownership.

Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 22.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 652,156 shares of the company's stock after buying an additional 120,743 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 1.01% of Ingredion worth $88,178,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new position in shares of Ingredion in the first quarter valued at approximately $26,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Ingredion in the first quarter valued at approximately $32,000. Ameriflex Group Inc. acquired a new stake in Ingredion in the fourth quarter valued at approximately $33,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Ingredion by 40.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock worth $38,000 after acquiring an additional 80 shares during the last quarter. Finally, Costello Asset Management INC purchased a new position in Ingredion in the first quarter worth approximately $41,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INGR. Wall Street Zen downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. UBS Group lifted their price target on shares of Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $151.40.

Insiders Place Their Bets

In other Ingredion news, SVP Larry Fernandes sold 850 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $128.39, for a total value of $109,131.50. Following the transaction, the senior vice president directly owned 31,171 shares of the company's stock, valued at approximately $4,002,044.69. The trade was a 2.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 36,287 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the completion of the transaction, the chief executive officer directly owned 50,129 shares in the company, valued at $6,342,321.08. This represents a 41.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,137 shares of company stock worth $4,700,163 over the last ninety days. Corporate insiders own 2.30% of the company's stock.

Ingredion Stock Up 0.4%

Shares of NYSE:INGR traded up $0.49 during trading on Friday, hitting $129.54. 439,732 shares of the company were exchanged, compared to its average volume of 521,003. The stock has a market capitalization of $8.31 billion, a P/E ratio of 12.64, a PEG ratio of 1.03 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 Incorporated has a 12-month low of $120.51 and a 12-month high of $155.44. The firm's 50 day moving average price is $131.89 and its 200-day moving average price is $132.73.

Ingredion (NYSE:INGR - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.09. The business had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The company's quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.87 EPS. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, research analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, October 1st. This is a positive change from Ingredion's previous quarterly dividend of $0.80. Ingredion's dividend payout ratio is presently 31.22%.

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.