Hsbc Holdings PLC Has $4.64 Million Holdings in Ingredion Incorporated (NYSE:INGR)

Hsbc Holdings PLC reduced its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,731 shares of the company's stock after selling 2,390 shares during the period. Hsbc Holdings PLC owned 0.05% of Ingredion worth $4,640,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Ingredion during the fourth quarter valued at about $96,012,000. Assetmark Inc. raised its position in shares of Ingredion by 38,341.7% in the 4th quarter. Assetmark Inc. now owns 509,352 shares of the company's stock worth $70,067,000 after acquiring an additional 508,027 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Ingredion in the 4th quarter valued at approximately $58,642,000. Prudential Financial Inc. boosted its position in shares of Ingredion by 93.2% during the fourth quarter. Prudential Financial Inc. now owns 652,734 shares of the company's stock valued at $89,790,000 after purchasing an additional 314,912 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in Ingredion by 16.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company's stock worth $260,056,000 after purchasing an additional 268,389 shares during the period. 85.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on INGR shares. UBS Group set a $155.00 price target on shares of Ingredion in a research note on Tuesday, April 22nd. Oppenheimer cut their price target on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Stephens reduced their price target on Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Finally, BMO Capital Markets dropped their price target on shares of Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $152.20.

Insider Activity

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the transaction, the chief executive officer now owns 34,127 shares in the company, valued at $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.80% of the company's stock.

Ingredion Stock Performance

Shares of INGR traded up $0.60 during mid-day trading on Monday, hitting $133.04. 79,227 shares of the company traded hands, compared to its average volume of 581,970. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 1.03 and a beta of 0.73. The stock has a 50-day moving average price of $131.11 and a two-hundred day moving average price of $135.54. Ingredion Incorporated has a 1 year low of $111.54 and a 1 year high of $155.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.54 by $0.09. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the business posted $1.65 EPS. Ingredion's revenue was down 6.3% on a year-over-year basis. Equities analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Tuesday, April 1st. Ingredion's dividend payout ratio (DPR) is presently 32.96%.

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.