Geode Capital Management LLC Sells 46,291 Shares of Ingredion Incorporated $INGR

Key Points

• Geode Capital Management reduced its stake in Ingredion by 3.7% in the fourth quarter, selling 46,291 shares and ending with 1.21 million shares valued at about $133.8 million.
• Analyst sentiment is cautious, with the stock carrying a consensus “Hold” rating and an average price target of $122.43; several firms recently trimmed targets, and Zacks cut the stock to “strong sell.”
• Ingredion’s latest earnings missed expectations, reporting $2.34 EPS versus $2.44 expected, while revenue of $1.79 billion matched estimates and declined 1.2% year over year; the company also announced a $0.82 quarterly dividend.

Geode Capital Management LLC cut its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,213,593 shares of the company's stock after selling 46,291 shares during the quarter. Geode Capital Management LLC owned approximately 1.91% of Ingredion worth $133,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of INGR. Integrated Wealth Concepts LLC boosted its position in Ingredion by 32.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,082 shares of the company's stock valued at $281,000 after acquiring an additional 514 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ingredion by 63.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,694 shares of the company's stock valued at $499,000 after acquiring an additional 1,440 shares in the last quarter. NewEdge Advisors LLC boosted its position in Ingredion by 9.0% during the 1st quarter. NewEdge Advisors LLC now owns 9,687 shares of the company's stock valued at $1,310,000 after acquiring an additional 797 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Ingredion by 5.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 101,414 shares of the company's stock valued at $13,712,000 after acquiring an additional 5,255 shares in the last quarter. Finally, Focus Partners Wealth boosted its position in Ingredion by 5.6% during the 1st quarter. Focus Partners Wealth now owns 3,636 shares of the company's stock valued at $492,000 after acquiring an additional 192 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Davida Marie Gable sold 375 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $112.44, for a total value of $42,165.00. Following the completion of the transaction, the vice president directly owned 7,110 shares in the company, valued at $799,448.40. The trade was a 5.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ingredion in a research report on Friday, March 27th. Barclays cut their price objective on Ingredion from $128.00 to $120.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 6th. Benchmark assumed coverage on Ingredion in a research report on Tuesday, March 17th. They set a "buy" rating and a $130.00 price objective on the stock. Oppenheimer cut their price objective on Ingredion from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 22nd. Finally, Zacks Research cut Ingredion from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 19th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $122.43.

Ingredion Stock Performance

Ingredion stock opened at $99.44 on Friday. Ingredion Incorporated has a twelve month low of $98.29 and a twelve month high of $140.47. The company has a market capitalization of $6.27 billion, a P/E ratio of 9.58, a PEG ratio of 0.84 and a beta of 0.60. The stock's 50 day moving average is $108.57 and its 200 day moving average is $111.41. The company has a quick ratio of 1.83, a current ratio of 2.76 and a debt-to-equity ratio of 0.40.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $2.34 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.10). Ingredion had a return on equity of 15.86% and a net margin of 9.36%.The firm had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.79 billion. During the same quarter in the previous year, the firm earned $2.97 earnings per share. Ingredion's revenue was down 1.2% on a year-over-year basis. Ingredion has set its FY 2026 guidance at 10.450-11.150 EPS. On average, equities research analysts predict that Ingredion Incorporated will post 10.88 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Wednesday, July 1st will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, July 1st. Ingredion's payout ratio is presently 31.60%.

Ingredion Profile

Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.

The company's product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.

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