Ingredion Inc (NYSE:INGR) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC cut its stake in Ingredion Inc (NYSE:INGR) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,472 shares of the company’s stock after selling 12 shares during the period. DAVENPORT & Co LLC’s holdings in Ingredion were worth $309,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of INGR. Louisiana State Employees Retirement System boosted its position in Ingredion by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the company’s stock valued at $2,180,000 after buying an additional 200 shares during the period. BKD Wealth Advisors LLC raised its position in shares of Ingredion by 16.4% in the first quarter. BKD Wealth Advisors LLC now owns 2,316 shares of the company’s stock valued at $279,000 after buying an additional 326 shares during the period. Capstone Asset Management Co. raised its position in shares of Ingredion by 10.9% in the first quarter. Capstone Asset Management Co. now owns 8,366 shares of the company’s stock valued at $1,008,000 after buying an additional 820 shares during the period. Highland Capital Management LLC raised its position in shares of Ingredion by 0.9% in the first quarter. Highland Capital Management LLC now owns 51,120 shares of the company’s stock valued at $6,156,000 after buying an additional 443 shares during the period. Finally, Raymond James Trust N.A. raised its position in shares of Ingredion by 20.7% in the first quarter. Raymond James Trust N.A. now owns 2,189 shares of the company’s stock valued at $264,000 after buying an additional 376 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Shares of Ingredion Inc (NYSE INGR) traded down 0.95% during trading on Monday, reaching $116.02. 295,850 shares of the company were exchanged. The stock has a market capitalization of $8.31 billion, a PE ratio of 17.96 and a beta of 0.60. Ingredion Inc has a one year low of $113.07 and a one year high of $140.00. The stock has a 50-day moving average price of $117.11 and a 200-day moving average price of $121.02.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.07. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. Ingredion had a net margin of 8.74% and a return on equity of 19.32%. Ingredion’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $1.74 EPS. Analysts forecast that Ingredion Inc will post $7.56 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Wednesday, June 28th. Ingredion’s payout ratio is presently 31.01%.

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A number of equities analysts recently weighed in on the stock. BidaskClub raised shares of Ingredion from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. BMO Capital Markets restated a “hold” rating and set a $125.00 target price on shares of Ingredion in a research report on Tuesday, June 27th. Jefferies Group LLC reiterated a “buy” rating and set a $145.00 price target on shares of Ingredion in a research report on Wednesday, June 14th. Finally, Zacks Investment Research lowered shares of Ingredion from a “buy” rating to a “hold” rating in a research report on Tuesday, March 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Ingredion has a consensus rating of “Hold” and an average target price of $143.80.

Ingredion Company Profile

Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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