Mackenzie Financial Corp Has $1.66 Million Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Key Points

• Mackenzie Financial Corp increased its stake in Ingredion Incorporated by 20.1% during the first quarter, totaling $1.66 million with 12,295 shares owned.
• Ingredion's quarterly earnings beat analysts' expectations at $2.87 per share, but its revenue of $1.83 billion fell short of the forecast.
• The company recently declared a $0.80 quarterly dividend, yielding 2.5%, with a payout ratio of 31.22%.

Mackenzie Financial Corp boosted its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 20.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,295 shares of the company's stock after buying an additional 2,054 shares during the period. Mackenzie Financial Corp's holdings in Ingredion were worth $1,662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Ingredion by 40.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock worth $38,000 after purchasing an additional 80 shares during the period. Waverly Advisors LLC lifted its holdings in shares of Ingredion by 3.8% during the fourth quarter. Waverly Advisors LLC now owns 2,303 shares of the company's stock worth $317,000 after buying an additional 84 shares in the last quarter. Retirement Guys Formula LLC raised its stake in Ingredion by 5.7% in the first quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company's stock valued at $212,000 after purchasing an additional 84 shares in the last quarter. Hancock Whitney Corp grew its position in Ingredion by 1.6% in the fourth quarter. Hancock Whitney Corp now owns 6,854 shares of the company's stock valued at $943,000 after acquiring an additional 108 shares during the last quarter. Finally, KBC Group NV boosted its stake 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 in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Larry Fernandes sold 850 shares of the firm's stock in a transaction on Monday, August 4th. The stock was 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 owned 31,171 shares in the company, valued at $4,002,044.69. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. UBS Group lifted their price target on Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 8th. Finally, Oppenheimer dropped their target price on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Three equities research 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $151.40.

Ingredion Trading Up 0.7%

Shares of Ingredion stock traded up $0.89 on Thursday, hitting $126.07. 171,644 shares of the company's stock traded hands, compared to its average volume of 534,135. The firm's 50-day moving average price is $135.39 and its two-hundred day moving average price is $133.41. Ingredion Incorporated has a one year low of $120.51 and a one year high of $155.44. The stock has a market capitalization of $8.11 billion, a PE ratio of 12.29, 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 current ratio of 2.78 and a quick ratio of 1.81.

Ingredion (NYSE:INGR - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm posted $2.87 EPS. The company's quarterly revenue was down 2.4% on a year-over-year basis. On average, research analysts expect that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, July 1st. Ingredion's payout ratio is presently 31.22%.

Ingredion 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.