Ingredion Incorporated (NYSE:INGR) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC decreased its position in Ingredion Incorporated (NYSE:INGR) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,896 shares of the company’s stock after selling 712 shares during the quarter. New York Life Investment Management LLC’s holdings in Ingredion were worth $949,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Wealth LLC raised its holdings in Ingredion by 19.8% in the fourth quarter. NewEdge Wealth LLC now owns 148,695 shares of the company’s stock valued at $20,454,000 after acquiring an additional 24,552 shares in the last quarter. Impact Investors Inc acquired a new stake in Ingredion in the fourth quarter valued at approximately $470,000. Amalgamated Bank increased its stake in Ingredion by 1.8% in the fourth quarter. Amalgamated Bank now owns 31,590 shares of the company’s stock valued at $4,346,000 after purchasing an additional 551 shares during the last quarter. FourThought Financial Partners LLC purchased a new position in Ingredion in the fourth quarter valued at approximately $251,000. Finally, J. W. Coons Advisors LLC purchased a new position in Ingredion in the fourth quarter valued at approximately $247,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analysts Set New Price Targets

INGR has been the topic of several recent analyst reports. 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. Barclays increased their price target on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. BMO Capital Markets dropped their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. UBS Group increased their price target on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ingredion has an average rating of “Moderate Buy” and an average price target of $158.20.

Ingredion Price Performance

Ingredion stock opened at $130.43 on Tuesday. Ingredion Incorporated has a one year low of $109.51 and a one year high of $155.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62. The business has a fifty day moving average of $132.71 and a two-hundred day moving average of $136.62. The company has a market cap of $8.37 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 1.03 and a beta of 0.74.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, February 4th. The company reported $2.63 EPS 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 during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the company earned $1.65 earnings per share. Ingredion’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Thursday, January 2nd. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 10,815 shares of Ingredion stock in a transaction on Wednesday, February 19th. The stock was 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 owns 34,127 shares of the company’s stock, valued at $4,295,906.76. The trade was a 24.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Ingredion Company 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.