Nicholas Hoffman & Company LLC. Sells 1,384 Shares of Ingredion Incorporated (NYSE:INGR)

Nicholas Hoffman & Company LLC. reduced its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 15.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 7,461 shares of the company’s stock after selling 1,384 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Ingredion were worth $1,026,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Creative Planning raised its stake in shares of 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 during the last quarter. Net Worth Advisory Group bought a new stake in Ingredion in the third quarter valued at approximately $614,000. Blue Trust Inc. boosted its holdings in shares of Ingredion by 126.1% in the third quarter. Blue Trust Inc. now owns 1,343 shares of the company’s stock valued at $185,000 after buying an additional 749 shares during the period. Raymond James & Associates boosted its holdings in Ingredion by 11.3% during the third quarter. Raymond James & Associates now owns 230,194 shares of the company’s stock worth $31,636,000 after purchasing an additional 23,396 shares during the last quarter. Finally, Means Investment CO. Inc. acquired a new position in Ingredion during the third quarter worth $204,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Trading Down 1.2 %

INGR opened at $126.70 on Monday. Ingredion Incorporated has a one year low of $109.51 and a one year high of $155.44. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.04 and a beta of 0.74. The business has a 50 day simple moving average of $135.61 and a two-hundred day simple moving average of $136.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.09. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the business posted $1.65 EPS. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Analysts predict that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.80 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.53%. Ingredion’s dividend payout ratio is presently 32.96%.

Insider Buying and Selling at Ingredion

In related news, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the transaction, the chief financial officer now owns 12,795 shares in the company, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on INGR shares. Stephens dropped 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 report on Wednesday, February 5th. Oppenheimer reduced their price target on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. BMO Capital Markets lowered their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Barclays lifted their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, UBS Group boosted their price target on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.20.

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.