Burney Co. Reduces Position in Ingredion Incorporated (NYSE:INGR)

Burney Co. decreased its holdings in Ingredion Incorporated (NYSE:INGR) by 1.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,684 shares of the company’s stock after selling 265 shares during the period. Burney Co.’s holdings in Ingredion were worth $2,983,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Ingredion by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock valued at $308,009,000 after purchasing an additional 125,543 shares during the last quarter. State Street Corp raised its stake in Ingredion by 0.8% during the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company’s stock valued at $334,862,000 after buying an additional 19,560 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Ingredion by 92.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock valued at $202,332,000 after buying an additional 846,967 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Ingredion by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock worth $211,529,000 after buying an additional 36,421 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake 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 worth $160,516,000 after buying an additional 19,064 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In other Ingredion news, SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the sale, the senior vice president now owns 29,034 shares in the company, valued at $4,083,922.44. The trade was a 17.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the transaction, the chief financial officer now owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,692 shares of company stock worth $9,634,868. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on INGR shares. BMO Capital Markets increased their target price on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Oppenheimer increased their price objective on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Stephens raised shares of Ingredion to a “hold” rating in a report on Monday, December 2nd. Barclays upped their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, UBS Group lifted their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $155.17.

Ingredion Price Performance

Shares of NYSE:INGR opened at $132.93 on Thursday. The company has a market capitalization of $8.66 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.24 and a beta of 0.74. Ingredion Incorporated has a 1-year low of $107.20 and a 1-year high of $155.44. The firm’s 50 day simple moving average is $142.00 and its two-hundred day simple moving average is $133.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. Ingredion’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.33 EPS. Research analysts expect that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is 31.22%.

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.