Raymond James Financial Services Advisors Inc. Sells 416 Shares of Ingredion Incorporated (NYSE:INGR)

Posted by Defense World Staff on Nov 3rd, 2023

Raymond James Financial Services Advisors Inc. lessened its holdings in Ingredion Incorporated (NYSE:INGR – Free Report) by 10.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,738 shares of the company’s stock after selling 416 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Ingredion were worth $396,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Ingredion by 0.7% in the third quarter. Vanguard Group Inc. now owns 7,030,024 shares of the company’s stock worth $566,057,000 after purchasing an additional 46,092 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Ingredion by 1.9% in the first quarter. BlackRock Inc. now owns 5,790,111 shares of the company’s stock worth $504,608,000 after purchasing an additional 107,110 shares during the last quarter. State Street Corp grew its holdings in shares of Ingredion by 1.1% in the first quarter. State Street Corp now owns 2,418,013 shares of the company’s stock worth $247,617,000 after purchasing an additional 26,437 shares during the last quarter. Snyder Capital Management L P lifted its stake in Ingredion by 1.2% in the first quarter. Snyder Capital Management L P now owns 1,427,748 shares of the company’s stock worth $145,245,000 after acquiring an additional 17,572 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Ingredion by 6.6% in the first quarter. Victory Capital Management Inc. now owns 1,183,144 shares of the company’s stock worth $120,361,000 after acquiring an additional 73,134 shares during the period. Institutional investors own 84.80% of the company’s stock.

Ingredion Stock Performance

NYSE INGR opened at $94.89 on Friday. The company has a market cap of $6.28 billion, a P/E ratio of 11.07, a P/E/G ratio of 0.95 and a beta of 0.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.92 and a quick ratio of 0.98. The stock has a 50-day moving average of $96.99 and a two-hundred day moving average of $103.26. Ingredion Incorporated has a 1-year low of $88.83 and a 1-year high of $113.46.

Ingredion (NYSE:INGR – Get Free Report) last released its earnings results on Tuesday, August 8th. The company reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.01). The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.20 billion. Ingredion had a net margin of 6.99% and a return on equity of 17.63%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 earnings per share. As a group, analysts anticipate that Ingredion Incorporated will post 8.99 EPS for the current year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 24th. Shareholders of record on Monday, October 2nd were paid a $0.78 dividend. The ex-dividend date was Friday, September 29th. This represents a $3.12 dividend on an annualized basis and a yield of 3.29%. This is a boost from Ingredion’s previous quarterly dividend of $0.71. Ingredion’s payout ratio is currently 36.41%.

Wall Street Analysts Forecast Growth

INGR has been the subject of a number of research reports. Stephens reaffirmed an “overweight” rating and issued a $130.00 price objective on shares of Ingredion in a research note on Wednesday, August 9th. BMO Capital Markets decreased their price target on shares of Ingredion from $125.00 to $117.00 and set a “market perform” rating for the company in a research report on Wednesday, August 9th. Barclays decreased their price target on shares of Ingredion from $118.00 to $110.00 and set an “equal weight” rating for the company in a research report on Wednesday. StockNews.com initiated coverage on shares of Ingredion in a research report on Thursday, October 5th. They set a “buy” rating for the company. Finally, Oppenheimer started coverage on shares of Ingredion in a report on Thursday, September 28th. They set an “outperform” rating and a $120.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $118.00.

Check Out Our Latest Stock Report on Ingredion

Insider Buying and Selling at Ingredion

In other Ingredion news, SVP David Eric Seip acquired 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were purchased at an average price of $98.50 per share, with a total value of $295,500.00. Following the completion of the acquisition, the senior vice president now directly owns 18,035 shares of the company’s stock, valued at approximately $1,776,447.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.68% of the stock is owned by company insiders.

About Ingredion

(Free Report)

Ingredion Incorporated, together with its subsidiaries, produces 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.