According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “
Several other equities analysts also recently issued reports on the stock. Stephens upped their price objective on shares of Ingredion from $97.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. BMO Capital Markets increased their price target on shares of Ingredion from $90.00 to $104.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. TheStreet upgraded shares of Ingredion from a “c+” rating to a “b-” rating in a report on Friday, December 27th. Finally, Credit Suisse Group increased their price target on shares of Ingredion from $77.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $99.50.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.13. Ingredion had a net margin of 6.91% and a return on equity of 17.05%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts expect that Ingredion will post 6.97 EPS for the current fiscal year.
In related news, SVP Elizabeth Adefioye sold 2,779 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $89.31, for a total value of $248,192.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 2,781 shares of company stock worth $248,380. 0.56% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of INGR. Caisse DE Depot ET Placement DU Quebec increased its holdings in Ingredion by 4,702.9% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,419,398 shares of the company’s stock worth $131,933,000 after buying an additional 1,389,845 shares during the period. AQR Capital Management LLC grew its stake in shares of Ingredion by 37.3% during the 4th quarter. AQR Capital Management LLC now owns 1,866,667 shares of the company’s stock worth $173,077,000 after purchasing an additional 507,195 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Ingredion by 20,874.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 314,624 shares of the company’s stock worth $25,717,000 after purchasing an additional 313,124 shares during the period. Investec Asset Management LTD grew its stake in shares of Ingredion by 157.0% during the 4th quarter. Investec Asset Management LTD now owns 436,125 shares of the company’s stock worth $40,538,000 after purchasing an additional 266,417 shares during the period. Finally, Marshall Wace North America L.P. grew its stake in shares of Ingredion by 37,792.8% during the 4th quarter. Marshall Wace North America L.P. now owns 214,852 shares of the company’s stock worth $19,970,000 after purchasing an additional 214,285 shares during the period. Institutional investors own 87.51% of the company’s stock.
Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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