Yacktman Asset Management LP Sells 19,649 Shares of Ingredion Incorporated $INGR

Yacktman Asset Management LP trimmed its stake in Ingredion Incorporated (NYSE:INGR) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,577,486 shares of the company’s stock after selling 19,649 shares during the quarter. Ingredion accounts for 2.9% of Yacktman Asset Management LP’s portfolio, making the stock its 12th biggest holding. Yacktman Asset Management LP owned about 2.45% of Ingredion worth $213,939,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in INGR. Jump Financial LLC lifted its holdings in shares of Ingredion by 474.2% during the first quarter. Jump Financial LLC now owns 11,501 shares of the company’s stock valued at $1,555,000 after purchasing an additional 9,498 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Ingredion by 38.2% during the first quarter. Jupiter Asset Management Ltd. now owns 342,190 shares of the company’s stock valued at $46,268,000 after purchasing an additional 94,575 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Ingredion by 66.3% during the second quarter. Nordea Investment Management AB now owns 722,933 shares of the company’s stock valued at $97,531,000 after purchasing an additional 288,201 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Ingredion by 8.4% during the first quarter. Brown Advisory Inc. now owns 2,318 shares of the company’s stock valued at $313,000 after purchasing an additional 180 shares in the last quarter. Finally, Kera Capital Partners Inc. bought a new position in shares of Ingredion during the second quarter valued at $232,000. 85.27% of the stock is owned by institutional investors.

Ingredion Stock Up 0.3%

Ingredion stock opened at $107.73 on Thursday. The stock has a market cap of $6.91 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 0.95 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78. Ingredion Incorporated has a one year low of $102.31 and a one year high of $155.44. The stock has a fifty day moving average of $121.69 and a 200 day moving average of $129.71.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.02. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. As a group, sell-side analysts predict that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Wednesday, October 1st were given a $0.82 dividend. The ex-dividend date was Wednesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.80. This represents a $3.28 dividend on an annualized basis and a yield of 3.0%. Ingredion’s dividend payout ratio (DPR) is currently 32.70%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group lowered their price target on Ingredion from $130.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday. BMO Capital Markets lowered their price target on Ingredion from $143.00 to $123.00 and set a “market perform” rating on the stock in a report on Wednesday. Stephens lowered their price target on Ingredion from $140.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday. Industrial Alliance Securities set a $124.00 price objective on Ingredion in a research report on Thursday. Finally, Wall Street Zen cut Ingredion from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $124.40.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 36,287 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total value of $4,591,031.24. Following the completion of the sale, the chief executive officer owned 50,129 shares in the company, valued at $6,342,321.08. This represents a 41.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by 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.