Yacktman Asset Management LP Sells 57,774 Shares of Ingredion Incorporated (NYSE:INGR)

Yacktman Asset Management LP lowered its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,597,135 shares of the company's stock after selling 57,774 shares during the quarter. Ingredion accounts for about 2.8% of Yacktman Asset Management LP's portfolio, making the stock its 13th largest position. Yacktman Asset Management LP owned about 2.48% of Ingredion worth $215,949,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alpine Bank Wealth Management bought a new position in Ingredion during the 1st quarter worth about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Ingredion by 653.3% during the 4th 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 during the last quarter. Ameriflex Group Inc. purchased a new position in Ingredion during the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC raised its position in Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock worth $44,000 after buying an additional 79 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new position in shares of Ingredion during the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Ingredion Stock Up 0.4%

NYSE:INGR opened at $136.78 on Wednesday. The company has a current ratio of 2.85, a quick ratio of 1.86 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 1-year low of $111.93 and a 1-year high of $155.44. The business's fifty day moving average price is $137.27 and its 200 day moving average price is $133.85. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.10 and a beta of 0.72.

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

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion's dividend payout ratio (DPR) is presently 33.76%.

Insider Buying and Selling at Ingredion

In other news, SVP Larry Fernandes sold 2,400 shares of the firm's stock in a transaction dated 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 sale, the senior vice president directly owned 31,996 shares in the company, valued at $4,345,696.72. This trade represents a 6.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Oppenheimer lowered their target price on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. UBS Group set a $155.00 price objective on shares of Ingredion in a report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Three equities research 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.

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