Ingredion Incorporated (NYSE:INGR) Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 20.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,591 shares of the company's stock after selling 40,722 shares during the quarter. Royal Bank of Canada owned 0.25% of Ingredion worth $22,366,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of Ingredion by 31.9% in the 3rd quarter. Barclays PLC now owns 47,291 shares of the company's stock valued at $6,499,000 after purchasing an additional 11,432 shares in the last quarter. Merit Financial Group LLC bought a new stake in shares of Ingredion in the 4th quarter valued at about $314,000. Ballentine Partners LLC bought a new stake in shares of Ingredion in the 4th quarter valued at about $206,000. Janney Montgomery Scott LLC raised its holdings in shares of Ingredion by 16.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 29,134 shares of the company's stock valued at $4,008,000 after purchasing an additional 4,123 shares in the last quarter. Finally, Impact Partnership Wealth LLC raised its holdings in shares of Ingredion by 13.1% in the 4th quarter. Impact Partnership Wealth LLC now owns 1,689 shares of the company's stock valued at $232,000 after purchasing an additional 196 shares in the last quarter. Institutional investors own 85.27% of the company's stock.

Ingredion Stock Up 0.5%

Shares of Ingredion stock traded up $0.64 on Thursday, reaching $138.73. The stock had a trading volume of 114,928 shares, compared to its average volume of 470,366. The company has a 50 day moving average price of $133.34 and a 200 day moving average price of $135.47. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a 1 year low of $111.54 and a 1 year high of $155.44. The stock has a market capitalization of $8.92 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.03 and a beta of 0.73.

Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.53. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. Ingredion's revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.08 EPS. As a group, equities research analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.31%. The ex-dividend date is Tuesday, July 1st. Ingredion's dividend payout ratio is presently 33.76%.

Insiders Place Their Bets

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of Ingredion stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 31,996 shares in the company, valued at approximately $4,345,696.72. The trade was a 6.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Stephens reduced their price target on shares of Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a report on Monday, May 19th. Oppenheimer cut their price objective on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. UBS Group set a $155.00 price objective on shares of Ingredion in a research report on Tuesday, April 22nd. Finally, BMO Capital Markets cut their price objective on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $152.20.

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.