JPMorgan Chase & Co. Has $46.40 Million Position in Ingredion Incorporated (NYSE:INGR)

JPMorgan Chase & Co. increased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 10.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 337,292 shares of the company’s stock after purchasing an additional 31,465 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ingredion were worth $46,398,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Ingredion by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 7,285,705 shares of the company’s stock worth $1,002,222,000 after purchasing an additional 84,863 shares during the last quarter. State Street Corp raised its position in Ingredion by 0.8% during the third quarter. State Street Corp now owns 2,436,601 shares of the company’s stock worth $334,862,000 after acquiring an additional 19,560 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Ingredion by 16.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock valued at $260,056,000 after acquiring an additional 268,389 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Ingredion by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company’s stock valued at $160,516,000 after purchasing an additional 19,064 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in Ingredion by 11.9% in the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock valued at $115,930,000 after purchasing an additional 89,335 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 10,815 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total value of $1,361,392.20. Following the completion of the transaction, the chief executive officer now directly owns 34,127 shares of the company’s stock, valued at approximately $4,295,906.76. This trade represents a 24.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INGR. BMO Capital Markets dropped their price target 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 price target on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Stephens reduced their price objective on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Finally, StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.20.

Ingredion Price Performance

Shares of INGR opened at $130.69 on Monday. 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 business’s fifty day moving average is $131.47 and its 200 day moving average is $136.47. Ingredion Incorporated has a 12-month low of $109.51 and a 12-month high of $155.44. The stock has a market cap of $8.39 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.03 and a beta of 0.71.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.09. The company had revenue of $1.80 billion for 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%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $1.65 earnings per share. Sell-side analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Tuesday, April 1st. Ingredion’s dividend payout ratio is 32.96%.

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.