Jupiter Asset Management Ltd. Has $46.27 Million Stock Position in Ingredion Incorporated (NYSE:INGR)

Key Points

• Jupiter Asset Management Ltd. increased its stake in Ingredion Incorporated by 38.2%, acquiring 94,575 additional shares, bringing its total ownership to 342,190 shares valued at approximately $46 million.
• Ingredion reported earnings of $2.87 per share, surpassing analysts' estimates of $2.78, but experienced a 2.4% decline in revenue compared to the previous year.
• The company recently declared a quarterly dividend of $0.80 per share, providing a yield of 2.5% with a payout ratio of 33.76%.

Jupiter Asset Management Ltd. lifted its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 38.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 342,190 shares of the company's stock after purchasing an additional 94,575 shares during the quarter. Jupiter Asset Management Ltd. owned 0.53% of Ingredion worth $46,268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INGR. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Ingredion by 40.2% during 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. Waverly Advisors LLC increased its position in Ingredion by 3.8% in the 4th quarter. Waverly Advisors LLC now owns 2,303 shares of the company's stock worth $317,000 after buying an additional 84 shares during the period. Retirement Guys Formula LLC raised its position in shares of Ingredion by 5.7% during the first quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company's stock valued at $212,000 after buying an additional 84 shares during the last quarter. Hancock Whitney Corp increased its position in shares of Ingredion by 1.6% during the fourth quarter. Hancock Whitney Corp now owns 6,854 shares of the company's stock valued at $943,000 after purchasing an additional 108 shares during the period. Finally, KBC Group NV increased its position in shares of Ingredion by 4.3% during the first quarter. KBC Group NV now owns 2,624 shares of the company's stock valued at $355,000 after purchasing an additional 109 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. UBS Group upped their price objective 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. Oppenheimer cut their target price on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Wall Street Zen raised Ingredion from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 8th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ingredion has an average rating of "Moderate Buy" and a consensus target price of $151.40.

Insider Buying and Selling at Ingredion

In related news, SVP Larry Fernandes sold 850 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $128.39, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company's stock.

Ingredion Stock Down 0.9%

Ingredion stock traded down $1.10 during midday trading on Wednesday, reaching $125.20. The stock had a trading volume of 438,006 shares, compared to its average volume of 535,156. The firm's fifty day simple moving average is $135.64 and its 200-day simple moving average is $133.47. 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 $8.05 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.09. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the firm posted $2.87 EPS. The company's quarterly revenue was down 2.4% on a year-over-year basis. As a group, analysts expect that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.6%. Ingredion's payout ratio is presently 31.22%.

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.