Sherbrooke Park Advisers LLC Buys New Holdings in Ingredion Incorporated (NYSE:INGR)

Sherbrooke Park Advisers LLC bought a new stake in Ingredion Incorporated (NYSE:INGR) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,279 shares of the company’s stock, valued at approximately $1,139,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Ingredion by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 7,285,705 shares of the company’s stock worth $1,002,222,000 after buying an additional 84,863 shares during the period. Pacer Advisors Inc. boosted its position in shares of Ingredion by 16.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock worth $260,056,000 after buying an additional 268,389 shares during the period. Geode Capital Management LLC boosted its position in shares of Ingredion by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,182,434 shares of the company’s stock worth $162,703,000 after buying an additional 14,741 shares during the period. Invesco Ltd. boosted its position in shares of Ingredion by 5.7% in the fourth quarter. Invesco Ltd. now owns 870,317 shares of the company’s stock worth $119,721,000 after buying an additional 46,819 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in shares of Ingredion by 11.9% in the fourth quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock worth $115,930,000 after buying an additional 89,335 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Trading Up 2.6%

Shares of NYSE INGR opened at $138.75 on Friday. The stock has a market capitalization of $8.92 billion, a P/E ratio of 14.29, a PEG ratio of 1.03 and a beta of 0.73. The stock’s 50 day moving average price is $132.05 and its two-hundred day moving average price is $135.65. Ingredion Incorporated has a 52-week low of $111.54 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.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.44 by $0.53. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.08 earnings per share. On average, analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Tuesday, April 1st. Ingredion’s dividend payout ratio (DPR) is 33.76%.

Analyst Ratings Changes

Several brokerages have recently weighed in on INGR. Oppenheimer decreased their target price on Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. UBS Group set a $155.00 price target on Ingredion in a research note on Tuesday, April 22nd. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. BMO Capital Markets cut their price objective 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. Finally, Stephens cut their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $152.20.

Insider Buying and Selling

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total transaction of $325,968.00. Following the completion of the transaction, the senior vice president now directly owns 31,996 shares of the company’s stock, valued at approximately $4,345,696.72. This trade represents a 6.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 10,815 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 34,127 shares of the company’s stock, valued at approximately $4,295,906.76. The trade was a 24.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,215 shares of company stock valued at $1,687,360 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

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.