Ingredion Incorporated $INGR Shares Sold by Principal Financial Group Inc.

Key Points

• Principal Financial Group trimmed its Ingredion stake by 1.6% in the first quarter, selling 11,293 shares and still holding 696,046 shares worth about $78.4 million.
• Ingredion reported Q1 earnings of $2.34 per share, missing Wall Street estimates by $0.10, while revenue of $1.79 billion matched expectations and fell 1.2% year over year.
• The company declared a quarterly dividend of $0.82 per share, equal to an annualized yield of about 3.2%, as analysts currently maintain a consensus Hold rating on the stock.

Principal Financial Group Inc. trimmed its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 696,046 shares of the company's stock after selling 11,293 shares during the quarter. Principal Financial Group Inc. owned about 1.10% of Ingredion worth $78,418,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position in Ingredion by 22,036.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,037,106 shares of the company's stock worth $114,351,000 after buying an additional 1,032,421 shares during the period. First Trust Advisors LP grew its position in shares of Ingredion by 90.9% during the fourth quarter. First Trust Advisors LP now owns 1,994,825 shares of the company's stock worth $219,949,000 after acquiring an additional 950,006 shares during the last quarter. Norges Bank bought a new position in shares of Ingredion during the fourth quarter worth about $85,310,000. AQR Capital Management LLC increased its holdings in shares of Ingredion by 143.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,191,118 shares of the company's stock worth $144,685,000 after acquiring an additional 701,063 shares during the period. Finally, Cooke & Bieler LP increased its holdings in shares of Ingredion by 33.6% in the 4th quarter. Cooke & Bieler LP now owns 1,207,153 shares of the company's stock worth $133,101,000 after acquiring an additional 303,807 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Ingredion Stock Up 3.0%

Ingredion stock opened at $102.15 on Friday. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 0.83 and a beta of 0.62. The company has a current ratio of 2.76, a quick ratio of 1.83 and a debt-to-equity ratio of 0.40. The company's 50-day moving average price is $100.39 and its two-hundred day moving average price is $109.24. Ingredion Incorporated has a 52 week low of $94.44 and a 52 week high of $135.90.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.79 billion. Ingredion had a return on equity of 15.86% and a net margin of 9.36%.The company's revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.97 earnings per share. Ingredion has set its FY 2026 guidance at 10.450-11.150 EPS. On average, analysts expect that Ingredion Incorporated will post 10.88 EPS for the current fiscal year.

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, July 1st. Ingredion's dividend payout ratio (DPR) is presently 31.60%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on INGR. UBS Group reiterated a "neutral" rating and issued a $114.00 price objective on shares of Ingredion in a research report on Thursday, May 7th. Barclays dropped their price target on shares of Ingredion from $128.00 to $120.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 6th. Benchmark reaffirmed a "buy" rating on shares of Ingredion in a report on Tuesday, June 9th. Oppenheimer lowered Ingredion from an "outperform" rating to a "market perform" rating in a report on Monday, June 8th. Finally, Weiss Ratings lowered Ingredion from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Ingredion presently has a consensus rating of "Hold" and an average target price of $122.43.

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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