Victory Capital Management Inc. Has $87.71 Million Stake in Ingredion Incorporated (NYSE:INGR)

Victory Capital Management Inc. lessened its stake in shares of Ingredion Incorporated (NYSE:INGR) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 808,159 shares of the company’s stock after selling 1,698 shares during the period. Victory Capital Management Inc. owned 1.24% of Ingredion worth $87,709,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nordea Investment Management AB boosted its position in shares of Ingredion by 73.0% during the 3rd quarter. Nordea Investment Management AB now owns 752,456 shares of the company’s stock worth $74,019,000 after acquiring an additional 317,509 shares in the last quarter. Invesco Ltd. increased its stake in shares of Ingredion by 74.6% in the 3rd quarter. Invesco Ltd. now owns 540,388 shares of the company’s stock valued at $53,174,000 after purchasing an additional 230,885 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Ingredion by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 7,345,630 shares of the company’s stock worth $722,810,000 after buying an additional 161,922 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Ingredion by 833.7% during the 3rd quarter. Schroder Investment Management Group now owns 136,606 shares of the company’s stock worth $13,442,000 after buying an additional 121,976 shares during the last quarter. Finally, Tudor Investment Corp Et Al acquired a new stake in Ingredion in the third quarter valued at about $7,889,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on INGR shares. Stephens reissued an “overweight” rating and set a $130.00 target price on shares of Ingredion in a research note on Wednesday, February 7th. Barclays boosted their target price on shares of Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. StockNews.com upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. Finally, The Goldman Sachs Group upgraded Ingredion from a “neutral” rating to a “buy” rating and increased their target price for the company from $122.00 to $135.00 in a research report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.67.

Insiders Place Their Bets

In related news, VP Davida Marie Gable sold 1,968 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $117.38, for a total transaction of $231,003.84. Following the sale, the vice president now owns 1,723 shares in the company, valued at approximately $202,245.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total value of $272,624.52. Following the completion of the sale, the senior vice president now owns 28,966 shares in the company, valued at approximately $3,333,407.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Davida Marie Gable sold 1,968 shares of Ingredion stock in a transaction on Friday, March 1st. The stock was sold at an average price of $117.38, for a total value of $231,003.84. Following the sale, the vice president now owns 1,723 shares in the company, valued at $202,245.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,921 shares of company stock worth $6,903,045. Company insiders own 1.80% of the company’s stock.

Ingredion Trading Down 0.6 %

NYSE INGR opened at $114.58 on Friday. Ingredion Incorporated has a 12 month low of $89.54 and a 12 month high of $118.83. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $7.52 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.09 and a beta of 0.81. The business’s 50-day moving average price is $115.19 and its two-hundred day moving average price is $108.73.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.10. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $2.07 billion. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 EPS. On average, analysts expect that Ingredion Incorporated will post 9.62 EPS for the current year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Monday, April 1st were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.72%. Ingredion’s dividend payout ratio (DPR) is currently 32.50%.

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.