Caisse DE Depot ET Placement DU Quebec Grows Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Caisse DE Depot ET Placement DU Quebec grew its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 327.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 531,413 shares of the company's stock after purchasing an additional 407,027 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.82% of Ingredion worth $73,101,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. BOK Financial Private Wealth Inc. purchased a new stake in shares of Ingredion in the 4th quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Ingredion during the fourth quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of 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 purchasing an additional 196 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Ingredion by 32.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after purchasing an additional 79 shares in the last quarter. Finally, Crews Bank & Trust purchased a new stake in Ingredion during the 4th quarter worth approximately $48,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Stock Performance

INGR traded down $2.32 on Wednesday, reaching $136.12. The company had a trading volume of 128,918 shares, compared to its average volume of 585,863. The stock has a 50-day moving average price of $131.32 and a 200-day moving average price of $135.55. The stock has a market capitalization of $8.75 billion, a PE ratio of 14.02, a P/E/G ratio of 1.03 and a beta of 0.73. Ingredion Incorporated has a 1 year low of $111.54 and a 1 year 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.

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

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.35%. Ingredion's payout ratio is 32.96%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the company'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 completion of the transaction, the chief executive officer now owns 34,127 shares in the company, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company's stock.

About Ingredion

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.