Sheaff Brock Investment Advisors LLC Has $8.08 Million Holdings in Ingredion Incorporated (NYSE:INGR)

Sheaff Brock Investment Advisors LLC lowered its position in shares of Ingredion Incorporated (NYSE:INGR) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 58,708 shares of the company’s stock after selling 422 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Ingredion were worth $8,076,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of 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 purchasing an additional 19,560 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Ingredion by 16.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock valued at $260,056,000 after buying an additional 268,389 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Ingredion by 2.4% during 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 in the last quarter. Geode Capital Management LLC grew its position in shares of Ingredion by 1.7% during 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 period. Finally, Principal Financial Group Inc. increased its stake in shares of Ingredion by 1.5% in the 3rd quarter. Principal Financial Group Inc. now owns 725,374 shares of the company’s stock valued at $99,683,000 after acquiring an additional 10,812 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction that occurred on 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 directly owns 12,795 shares of the company’s stock, valued at $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INGR. UBS Group raised their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. BMO Capital Markets reduced their target price on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Barclays upped their price target on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Stephens lowered their target price on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.20.

Ingredion Price Performance

Shares of NYSE INGR opened at $126.70 on Friday. The stock has a market cap 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 company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. Ingredion Incorporated has a fifty-two week low of $109.51 and a fifty-two week high of $155.44. The firm’s 50-day simple moving average is $135.61 and its 200 day simple moving average is $136.39.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.82 billion. During the same quarter last year, the company earned $1.65 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were paid a $0.80 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 annualized dividend and a dividend yield of 2.53%. Ingredion’s payout ratio is 32.96%.

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.