Larry Fernandes Sells 850 Shares of Ingredion Incorporated (NYSE:INGR) Stock

Key Points

• SVP Larry Fernandes of Ingredion sold 850 shares of the company's stock for a total of $109,131.50, decreasing his ownership by 2.65%.
• Ingredion reported earnings of $2.87 per share for the latest quarter, exceeding analysts' expectations, although revenue was down 2.4% year-over-year.
• The company recently declared a quarterly dividend of $0.80 per share, resulting in an annualized dividend yield of 2.5%.

Ingredion Incorporated (NYSE:INGR - Get Free Report) SVP Larry Fernandes sold 850 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $128.39, for a total value of $109,131.50. Following the completion of the sale, the senior vice president directly owned 31,171 shares in the company, valued at $4,002,044.69. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Larry Fernandes also recently made the following trade(s):

• On Wednesday, May 7th, Larry Fernandes sold 2,400 shares of Ingredion stock. The stock was sold at an average price of $135.82, for a total transaction of $325,968.00.

Ingredion Trading Up 0.4%

INGR traded up $0.54 during midday trading on Thursday, reaching $125.72. 116,691 shares of the company's stock traded hands, compared to its average volume of 533,785. Ingredion Incorporated has a 52 week low of $120.51 and a 52 week high of $155.44. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.01 and a beta of 0.71. The firm has a fifty day moving average of $135.39 and a two-hundred day moving average of $133.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81.

Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.09. The firm had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%. The company's quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.87 earnings per share. On average, equities analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st were given a $0.80 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. Ingredion's dividend payout ratio (DPR) is currently 31.22%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Oppenheimer dropped their price objective on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Wall Street Zen raised shares of Ingredion from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 8th. Finally, UBS Group boosted their price objective on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.40.

Hedge Funds Weigh In On Ingredion

Large investors have recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Ingredion by 40.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock valued at $38,000 after buying an additional 80 shares in the last quarter. Waverly Advisors LLC grew its holdings in shares of Ingredion by 3.8% during the 4th quarter. Waverly Advisors LLC now owns 2,303 shares of the company's stock valued at $317,000 after purchasing an additional 84 shares during the last quarter. Retirement Guys Formula LLC boosted its holdings in Ingredion by 5.7% in the first quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company's stock valued at $212,000 after acquiring an additional 84 shares during the last quarter. Wealthspire Advisors LLC increased its stake in Ingredion by 5.8% in the first quarter. Wealthspire Advisors LLC now owns 1,685 shares of the company's stock valued at $228,000 after purchasing an additional 92 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Ingredion by 0.3% during the 2nd quarter. Amalgamated Bank now owns 30,187 shares of the company's stock valued at $4,094,000 after acquiring an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

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.