Yacktman Asset Management LP Sells 8,355 Shares of Ingredion Incorporated (NYSE:INGR)

Yacktman Asset Management LP lessened its position in Ingredion Incorporated (NYSE:INGR) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,215,434 shares of the company’s stock after selling 8,355 shares during the period. Ingredion accounts for 2.2% of Yacktman Asset Management LP’s investment portfolio, making the stock its 14th biggest position. Yacktman Asset Management LP owned approximately 3.40% of Ingredion worth $240,441,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of INGR. Cutter & CO Brokerage Inc. lifted its stake in Ingredion by 2.9% in the third quarter. Cutter & CO Brokerage Inc. now owns 34,577 shares of the company’s stock worth $3,402,000 after acquiring an additional 990 shares during the period. Schroder Investment Management Group boosted its position in Ingredion by 833.7% during the 3rd quarter. Schroder Investment Management Group now owns 136,606 shares of the company’s stock valued at $13,442,000 after acquiring an additional 121,976 shares in the last quarter. Equity Investment Corp raised its position in shares of Ingredion by 1.4% in the 3rd quarter. Equity Investment Corp now owns 908,776 shares of the company’s stock worth $89,424,000 after acquiring an additional 12,427 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Ingredion by 73.0% during the third quarter. Nordea Investment Management AB now owns 752,456 shares of the company’s stock valued at $74,019,000 after purchasing an additional 317,509 shares in the last quarter. Finally, Horizon Family Wealth Inc. lifted its position in Ingredion by 10.9% during the third quarter. Horizon Family Wealth Inc. now owns 2,647 shares of the company’s stock valued at $260,000 after buying an additional 260 shares during the period. 85.27% of the stock is owned by institutional investors.

Ingredion Stock Down 0.7 %

INGR traded down $0.79 during trading on Friday, hitting $113.69. 145,323 shares of the company’s stock traded hands, compared to its average volume of 388,046. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.09 and a beta of 0.81. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. The company’s 50 day simple moving average is $115.24 and its two-hundred day simple moving average is $107.84. Ingredion Incorporated has a 12-month low of $89.54 and a 12-month high of $118.83.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, February 6th. The company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.87 by $0.10. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $2.07 billion. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 earnings per share. Analysts predict that Ingredion Incorporated will post 9.62 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st were issued a $0.78 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.12 annualized dividend and a dividend yield of 2.74%. Ingredion’s dividend payout ratio (DPR) is 32.50%.

Analyst Upgrades and Downgrades

INGR has been the subject of several research reports. The Goldman Sachs Group upgraded shares of Ingredion from a “neutral” rating to a “buy” rating and increased their price target for the stock from $122.00 to $135.00 in a research note on Thursday, February 15th. Stephens reissued an “overweight” rating and issued a $130.00 price target on shares of Ingredion in a research report on Wednesday, February 7th. StockNews.com raised Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Finally, Barclays lifted their price objective on Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.67.

Insider Buying and Selling

In other news, CEO James P. Zallie sold 54,581 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the completion of the transaction, the chief executive officer now directly owns 99,246 shares in the company, valued at approximately $11,635,601.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO James P. Zallie sold 54,581 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $117.24, for a total value of $6,399,076.44. Following the sale, the chief executive officer now directly owns 99,246 shares in the company, valued at approximately $11,635,601.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Davida Marie Gable sold 1,968 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $117.38, for a total transaction of $231,003.84. Following the completion of the transaction, the vice president now directly owns 1,723 shares of the company’s stock, valued at approximately $202,245.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,921 shares of company stock worth $6,903,045. Corporate insiders own 1.80% of the company’s stock.

Ingredion 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.