Shelton Capital Management Lowers Holdings in Ingredion Incorporated (NYSE:INGR)

Shelton Capital Management reduced its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,455 shares of the company’s stock after selling 121 shares during the period. Shelton Capital Management’s holdings in Ingredion were worth $338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Ingredion by 1.2% during 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 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 worth $260,056,000 after acquiring an additional 268,389 shares during the last quarter. Geode Capital Management LLC grew its holdings in Ingredion by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,182,434 shares of the company’s stock worth $162,703,000 after acquiring an additional 14,741 shares in the last quarter. Invesco Ltd. increased its position in shares of Ingredion by 5.7% in the 4th quarter. Invesco Ltd. now owns 870,317 shares of the company’s stock valued at $119,721,000 after purchasing an additional 46,819 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Ingredion by 11.9% in the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company’s stock valued at $115,930,000 after purchasing an additional 89,335 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Stock Performance

Shares of Ingredion stock opened at $127.62 on Friday. The firm’s fifty day simple moving average is $130.23 and its 200-day simple moving average is $136.06. Ingredion Incorporated has a 12 month low of $109.51 and a 12 month high of $155.44. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.03 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.09. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

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 paid a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.20 annualized dividend and a yield of 2.51%. Ingredion’s dividend payout ratio is currently 32.96%.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the sale, the chief executive officer now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

INGR has been the topic of several recent analyst reports. UBS Group reissued a “neutral” rating and issued a $145.00 target price (down previously from $165.00) on shares of Ingredion in a report on Monday. Oppenheimer cut their target price on Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. BMO Capital Markets decreased 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. Stephens dropped their price target on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Finally, StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Ingredion currently has a consensus rating of “Moderate Buy” and an average target price of $152.60.

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.