Harvest Fund Management Co. Ltd Has $464,000 Stake in Ingredion Incorporated (NYSE:INGR)

Harvest Fund Management Co. Ltd raised its position in Ingredion Incorporated (NYSE:INGR) by 1,231.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,369 shares of the company’s stock after purchasing an additional 3,116 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Ingredion were worth $464,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BOK Financial Private Wealth Inc. acquired a new stake in shares of Ingredion in the fourth quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Ingredion in the fourth quarter valued at about $27,000. Prospera Private Wealth LLC acquired a new stake in shares of Ingredion in the third quarter valued at about $41,000. EverSource Wealth Advisors LLC increased its position in shares of Ingredion by 32.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after acquiring an additional 79 shares during the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of Ingredion in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Buying and Selling at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the completion of the transaction, the chief executive officer now directly owns 34,127 shares in the company, valued at $4,295,906.76. The trade was a 24.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

INGR has been the topic of a number of recent research reports. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Oppenheimer reduced their price target on Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Stephens reduced their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, BMO Capital Markets reduced their price target on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Ingredion currently has an average rating of “Moderate Buy” and a consensus price target of $158.20.

Ingredion Trading Down 1.1 %

Shares of NYSE:INGR opened at $130.32 on Friday. Ingredion Incorporated has a 12-month low of $109.51 and a 12-month high of $155.44. The stock has a market cap of $8.36 billion, a PE ratio of 13.42, a P/E/G ratio of 1.03 and a beta of 0.75. The business has a 50 day moving average of $131.51 and a 200-day moving average of $136.48. 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 released its quarterly 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 net margin of 8.71% and a return on equity of 18.62%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.80 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.20 annualized dividend and a yield of 2.46%. Ingredion’s dividend payout ratio is currently 32.96%.

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.