Choreo LLC Makes New $369,000 Investment in Ingredion Incorporated (NYSE:INGR)

Choreo LLC purchased a new position in shares of Ingredion Incorporated (NYSE:INGR) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 2,690 shares of the company’s stock, valued at approximately $369,000.

A number of other institutional investors also recently modified their holdings of INGR. SG Americas Securities LLC increased its position in shares of Ingredion by 222.6% during the 3rd quarter. SG Americas Securities LLC now owns 3,810 shares of the company’s stock valued at $524,000 after purchasing an additional 2,629 shares during the last quarter. Brookstone Capital Management purchased a new stake in shares of Ingredion in the 3rd quarter worth about $213,000. Creative Planning boosted its holdings in Ingredion by 5.5% in the third quarter. Creative Planning now owns 11,203 shares of the company’s stock worth $1,540,000 after acquiring an additional 584 shares in the last quarter. ZWJ Investment Counsel Inc. raised its holdings in Ingredion by 0.6% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 368,095 shares of the company’s stock worth $50,587,000 after acquiring an additional 2,057 shares during the last quarter. Finally, Net Worth Advisory Group purchased a new position in Ingredion in the 3rd quarter worth about $614,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Stock Down 0.6 %

INGR stock opened at $127.88 on Thursday. Ingredion Incorporated has a 52 week low of $107.91 and a 52 week 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. The firm has a 50-day simple moving average of $136.80 and a 200-day simple moving average of $136.39. The stock has a market capitalization of $8.33 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.04 and a beta of 0.74.

Ingredion (NYSE:INGR) 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. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. Ingredion’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.65 EPS. Equities analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were issued a $0.80 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.50%. Ingredion’s payout ratio is currently 32.96%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on INGR shares. BMO Capital Markets decreased their price objective on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. UBS Group upped their price objective on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Stephens dropped their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Barclays raised their price objective on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Oppenheimer dropped their target price on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $154.33.

Insiders Place Their Bets

In other news, CFO James D. Gray sold 54,869 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the transaction, the chief financial officer now directly owns 12,795 shares in the company, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $140.66, for a total value of $861,120.52. Following the sale, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at $4,083,922.44. The trade was a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,992 shares of company stock valued at $8,913,841 in the last 90 days. 1.80% of the stock is owned by insiders.

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.