Ingredion Incorporated (NYSE:INGR) Holdings Lowered by Navellier & Associates Inc.

Key Points

• Navellier & Associates Inc. reduced its holdings in Ingredion by 10%, selling 2,987 shares for a total value of approximately $3.6 million.
• Ingredion has received a mix of analyst ratings, with Wall Street Zen upgrading it to a "strong-buy" and analysts giving an average price target of $151.40.
• The company announced a quarterly dividend of $0.80 per share, providing an annual yield of 2.40%, with a dividend payout ratio of 33.76%.

Navellier & Associates Inc. decreased its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 10.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,011 shares of the company's stock after selling 2,987 shares during the period. Navellier & Associates Inc.'s holdings in Ingredion were worth $3,609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Ingredion in the 4th quarter worth about $96,012,000. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Ingredion by 327.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 531,413 shares of the company's stock worth $73,101,000 after purchasing an additional 407,027 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Ingredion by 42.9% in the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock worth $162,840,000 after purchasing an additional 361,584 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Ingredion by 536.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 361,153 shares of the company's stock worth $49,680,000 after purchasing an additional 304,421 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Ingredion in the 4th quarter worth about $31,752,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Ingredion Stock Performance

Shares of NYSE INGR traded down $0.36 during midday trading on Monday, hitting $132.71. The company's stock had a trading volume of 74,674 shares, compared to its average volume of 530,659. Ingredion Incorporated has a 1-year low of $118.85 and a 1-year high of $155.44. The firm's fifty day moving average price is $136.91 and its 200-day moving average price is $133.64. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.86 and a current ratio of 2.85. The firm has a market cap of $8.53 billion, a P/E ratio of 14.00, a P/E/G ratio of 1.06 and a beta of 0.72.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.44 by $0.53. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the business posted $2.08 EPS. The company's quarterly revenue was down 3.7% on a year-over-year basis. On average, sell-side analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Tuesday, July 1st. Ingredion's payout ratio is 33.76%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 8th. Oppenheimer dropped their target price on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, UBS Group boosted their target price 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. Three equities 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $151.40.

Insider Transactions at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total transaction of $325,968.00. Following the completion of the transaction, the senior vice president directly owned 31,996 shares of the company's stock, valued at $4,345,696.72. The trade was a 6.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by insiders.

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.