14,309 Shares in Ingredion Incorporated (NYSE:INGR) Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp bought a new position in Ingredion Incorporated (NYSE:INGR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,309 shares of the company’s stock, valued at approximately $1,553,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC increased its position in shares of Ingredion by 63.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock worth $37,000 after acquiring an additional 147 shares in the last quarter. Allworth Financial LP increased its position in shares of Ingredion by 414.1% in the third quarter. Allworth Financial LP now owns 401 shares of the company’s stock worth $39,000 after acquiring an additional 323 shares in the last quarter. Blue Trust Inc. increased its position in shares of Ingredion by 40.2% in the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after acquiring an additional 103 shares in the last quarter. IFP Advisors Inc increased its position in shares of Ingredion by 33.7% in the third quarter. IFP Advisors Inc now owns 484 shares of the company’s stock worth $48,000 after acquiring an additional 122 shares in the last quarter. Finally, Planned Solutions Inc. purchased a new position in Ingredion during the fourth quarter valued at approximately $96,000. 85.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ingredion

In other Ingredion news, VP Davida Marie Gable sold 1,968 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $117.38, for a total value of $231,003.84. Following the completion of the sale, the vice president now directly owns 1,723 shares of the company’s stock, valued at approximately $202,245.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total value of $272,624.52. Following the completion of the transaction, the senior vice president now owns 28,966 shares in the company, valued at approximately $3,333,407.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Davida Marie Gable sold 1,968 shares of the stock in a transaction on 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 owns 1,723 shares of the company’s stock, valued at approximately $202,245.74. The disclosure for this sale can be found here. Insiders sold a total of 58,921 shares of company stock valued at $6,903,045 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on INGR. Stephens reaffirmed an “overweight” rating and set a $130.00 price objective on shares of Ingredion in a research report on Wednesday, February 7th. Barclays boosted their price objective on shares of Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. The Goldman Sachs Group raised shares of Ingredion from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $122.00 to $135.00 in a research report on Thursday, February 15th. Finally, StockNews.com raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Ingredion currently has a consensus rating of “Moderate Buy” and an average price target of $126.67.

Ingredion Price Performance

Shares of Ingredion stock opened at $114.35 on Wednesday. The firm has a fifty day simple moving average of $115.16 and a 200-day simple moving average of $107.75. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. Ingredion Incorporated has a 1-year low of $89.54 and a 1-year high of $118.83. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.07 and a beta of 0.81.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the company earned $1.65 earnings per share. Ingredion’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, sell-side analysts expect that Ingredion Incorporated will post 9.62 earnings per share for the current year.

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Monday, April 1st were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Thursday, March 28th. Ingredion’s payout ratio is currently 32.50%.

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.