Royal Bank of Canada Lowers Position in Ingredion Incorporated $INGR

Royal Bank of Canada lowered its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 6.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 151,418 shares of the company's stock after selling 11,173 shares during the quarter. Royal Bank of Canada owned approximately 0.24% of Ingredion worth $20,473,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Alpine Bank Wealth Management bought a new stake in shares of Ingredion during the 1st quarter valued at $26,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Ingredion in the 1st quarter worth approximately $32,000. Ameriflex Group Inc. bought a new position in shares of Ingredion in the 4th quarter worth approximately $33,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Ingredion by 40.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Finally, Costello Asset Management INC purchased a new position in Ingredion in the 1st quarter worth approximately $41,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on INGR. UBS Group increased their price objective on shares of Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Wall Street Zen raised shares of Ingredion from a "hold" rating to a "buy" rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $151.40.

Ingredion Stock Down 0.5%

NYSE:INGR traded down $0.63 during trading hours on Friday, reaching $126.25. 330,125 shares of the company traded hands, compared to its average volume of 412,883. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. Ingredion Incorporated has a 1 year low of $120.51 and a 1 year high of $155.44. The stock has a market capitalization of $8.10 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.02 and a beta of 0.77. The business's 50-day moving average price is $129.91 and its two-hundred day moving average price is $132.74.

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

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.6%. This is a boost from Ingredion's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Wednesday, October 1st. Ingredion's dividend payout ratio is presently 31.22%.

Insider Activity

In other news, SVP Larry Fernandes sold 850 shares of Ingredion stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $128.39, for a total value of $109,131.50. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 36,287 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer owned 50,129 shares in the company, valued at $6,342,321.08. This represents a 41.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,137 shares of company stock valued at $4,700,163 over the last three months. 2.30% of the stock is currently owned by corporate insiders.

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.