Kestra Private Wealth Services LLC Takes Position in Ingredion Incorporated (NYSE:INGR)

Kestra Private Wealth Services LLC bought a new stake in shares of Ingredion Incorporated (NYSE:INGR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,923 shares of the company’s stock, valued at approximately $426,000.

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

Insiders Place Their Bets

In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was 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 directly owns 28,966 shares of the company’s stock, valued at approximately $3,333,407.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was 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 directly owns 28,966 shares of the company’s stock, valued at approximately $3,333,407.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 54,581 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $117.24, for a total value of $6,399,076.44. Following the sale, the chief executive officer now directly owns 99,246 shares of the company’s stock, valued at $11,635,601.04. The disclosure for this sale can be found here. Insiders sold 58,921 shares of company stock valued at $6,903,045 in the last three months. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Ingredion Trading Up 0.7 %

Shares of NYSE:INGR opened at $115.37 on Tuesday. Ingredion Incorporated has a 1 year low of $89.54 and a 1 year high of $118.83. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 1.08 and a beta of 0.81. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.92 and a quick ratio of 1.10. The business’s 50 day moving average price is $115.21 and its 200-day moving average price is $109.13.

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

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Monday, April 1st were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.70%. The ex-dividend date was Thursday, March 28th. Ingredion’s dividend payout ratio is currently 32.50%.

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.