Deutsche Bank AG Purchases 203,742 Shares of Ingredion Incorporated (NYSE:INGR)

Deutsche Bank AG raised its position in Ingredion Incorporated (NYSE:INGR) by 766.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 230,317 shares of the company’s stock after acquiring an additional 203,742 shares during the quarter. Deutsche Bank AG’s holdings in Ingredion were worth $31,141,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of INGR. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Ingredion by 40.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Waverly Advisors LLC grew its stake in Ingredion by 3.8% during the 4th quarter. Waverly Advisors LLC now owns 2,303 shares of the company’s stock worth $317,000 after buying an additional 84 shares during the last quarter. Retirement Guys Formula LLC grew its stake in Ingredion by 5.7% during the 1st quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company’s stock worth $212,000 after buying an additional 84 shares during the last quarter. Wealthspire Advisors LLC increased its position in Ingredion by 5.8% during the 1st quarter. Wealthspire Advisors LLC now owns 1,685 shares of the company’s stock valued at $228,000 after buying an additional 92 shares in the last quarter. Finally, Hancock Whitney Corp raised its stake in Ingredion by 1.6% in the fourth quarter. Hancock Whitney Corp now owns 6,854 shares of the company’s stock valued at $943,000 after buying an additional 108 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on INGR. Wall Street Zen downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a report on Saturday. UBS Group increased their price objective on shares of Ingredion from $149.00 to $151.00 and gave the company a “neutral” rating in a research report on Wednesday, July 9th. Finally, Oppenheimer lowered their target price on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.40.

Insider Buying and Selling

In other news, SVP Larry Fernandes sold 850 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $128.39, for a total value of $109,131.50. Following the sale, the senior vice president directly owned 31,171 shares of the company’s stock, valued at $4,002,044.69. This represents a 2.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

Shares of INGR stock opened at $126.82 on Wednesday. The business has a fifty day moving average of $134.39 and a 200 day moving average of $133.13. Ingredion Incorporated has a 1 year low of $120.51 and a 1 year high of $155.44. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.09. Ingredion had a return on equity of 19.04% and a net margin of 9.24%. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the company earned $2.87 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. As a group, research analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, July 1st. Ingredion’s payout ratio is presently 31.22%.

Ingredion 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.