Royal Bank of Canada Has $22.37 Million Stake in Ingredion Incorporated (NYSE:INGR)

Royal Bank of Canada lessened its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 162,591 shares of the company's stock after selling 40,722 shares during the quarter. Royal Bank of Canada owned approximately 0.25% of Ingredion worth $22,366,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in INGR. BOK Financial Private Wealth Inc. acquired a new position in Ingredion in the 4th quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Ingredion in the fourth quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Ingredion by 653.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock worth $31,000 after buying an additional 196 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock worth $44,000 after buying an additional 79 shares in the last quarter. Finally, Crews Bank & Trust bought a new stake in Ingredion in the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on INGR shares. Wall Street Zen upgraded Ingredion from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 19th. BMO Capital Markets decreased their price objective on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. 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 note on Tuesday, April 22nd. UBS Group set a $155.00 price objective on Ingredion in a report on Tuesday, April 22nd. Finally, Stephens dropped their price objective on Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Ingredion presently has an average rating of "Moderate Buy" and a consensus target price of $152.20.

Insider Transactions at Ingredion

In other news, SVP Larry Fernandes sold 2,400 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total value of $325,968.00. Following the completion of the transaction, the senior vice president now owns 31,996 shares of the company's stock, valued at $4,345,696.72. This represents a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.80% of the company's stock.

Ingredion Stock Performance

Shares of INGR stock traded up $0.11 on Friday, reaching $138.78. The stock had a trading volume of 39,761 shares, compared to its average volume of 470,182. Ingredion Incorporated has a 12 month low of $111.54 and a 12 month high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 1.03 and a beta of 0.73. The firm's 50-day moving average is $133.34 and its two-hundred day moving average is $135.47.

Ingredion (NYSE:INGR - Get Free Report) last released its quarterly 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 business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm posted $2.08 EPS. On average, research analysts expect that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.31%. Ingredion's dividend payout ratio (DPR) is currently 33.76%.

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.