Ingredion Incorporated (NYSE:INGR) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in shares of Ingredion Incorporated (NYSE:INGR – Get Rating) by 54.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 27,671 shares of the company’s stock after selling 32,536 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ingredion were worth $2,710,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Ingredion by 5.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 6,890 shares of the company’s stock worth $675,000 after buying an additional 347 shares during the period. Van ECK Associates Corp lifted its position in Ingredion by 34.2% in the fourth quarter. Van ECK Associates Corp now owns 16,909 shares of the company’s stock valued at $1,656,000 after purchasing an additional 4,310 shares during the period. California Public Employees Retirement System lifted its position in Ingredion by 4.8% in the fourth quarter. California Public Employees Retirement System now owns 157,840 shares of the company’s stock valued at $15,457,000 after purchasing an additional 7,190 shares during the period. Swiss National Bank lifted its position in Ingredion by 0.7% in the fourth quarter. Swiss National Bank now owns 158,200 shares of the company’s stock valued at $15,493,000 after purchasing an additional 1,100 shares during the period. Finally, Heartland Advisors Inc. acquired a new stake in Ingredion in the fourth quarter valued at about $3,133,000. Institutional investors and hedge funds own 85.70% of the company’s stock.

Wall Street Analyst Weigh In

INGR has been the subject of a number of recent analyst reports. Stephens restated an “overweight” rating and issued a $120.00 price objective on shares of Ingredion in a research report on Friday, March 17th. BMO Capital Markets raised their price objective on shares of Ingredion from $115.00 to $123.00 in a research report on Thursday, May 4th. Credit Suisse Group increased their target price on shares of Ingredion from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, February 9th. StockNews.com began coverage on shares of Ingredion in a report on Thursday, March 16th. They issued a “buy” rating for the company. Finally, UBS Group raised shares of Ingredion from a “neutral” rating to a “buy” rating and increased their target price for the company from $105.00 to $121.00 in a report on Thursday, April 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Ingredion has a consensus rating of “Moderate Buy” and an average price target of $118.80.

Insider Transactions at Ingredion

In other news, EVP Jorgen Kokke sold 7,119 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $100.21, for a total transaction of $713,394.99. Following the completion of the transaction, the executive vice president now directly owns 36,537 shares of the company’s stock, valued at approximately $3,661,372.77. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Ingredion news, EVP Jorgen Kokke sold 7,119 shares of Ingredion stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $100.21, for a total value of $713,394.99. Following the completion of the sale, the executive vice president now directly owns 36,537 shares of the company’s stock, valued at approximately $3,661,372.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Larry Fernandes sold 1,746 shares of Ingredion stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $108.61, for a total transaction of $189,633.06. Following the completion of the sale, the senior vice president now directly owns 20,246 shares of the company’s stock, valued at $2,198,918.06. The disclosure for this sale can be found here. Insiders sold a total of 8,866 shares of company stock valued at $903,124 in the last ninety days. Corporate insiders own 1.56% of the company’s stock.

Ingredion Trading Down 0.6 %

Shares of Ingredion stock opened at $109.54 on Wednesday. Ingredion Incorporated has a 12-month low of $78.81 and a 12-month high of $112.30. The company has a current ratio of 1.80, a quick ratio of 0.92 and a debt-to-equity ratio of 0.59. The stock has a market cap of $7.23 billion, a PE ratio of 13.25 and a beta of 0.76. The company has a 50-day moving average of $103.04 and a two-hundred day moving average of $100.00.

Ingredion (NYSE:INGR – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.79. Ingredion had a net margin of 6.75% and a return on equity of 17.51%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the company posted $1.95 EPS. The company’s revenue was up 12.9% on a year-over-year basis. On average, research analysts anticipate that Ingredion Incorporated will post 9.05 EPS for the current fiscal year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 25th. Stockholders of record on Monday, April 3rd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 31st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.59%. Ingredion’s dividend payout ratio (DPR) is 34.34%.

About Ingredion

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Ingredion, Inc engages in the development, production, and sale of food and beverage ingredients, primarily starches and sweeteners. The firm is involved in transforming corn, tapioca, potatoes, plant-based stevia, grains, fruits, gums, and vegetables into value-added ingredients and biomaterials for the food, beverage, brewing, and other industries.