DAVENPORT & Co LLC Has $910,000 Holdings in Ingredion Incorporated $INGR

DAVENPORT & Co LLC trimmed its position in shares of Ingredion Incorporated (NYSE:INGR) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,710 shares of the company’s stock after selling 119 shares during the period. DAVENPORT & Co LLC’s holdings in Ingredion were worth $910,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new stake in Ingredion in the 1st quarter worth about $26,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Ingredion in the 1st quarter valued at about $32,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Ingredion by 40.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company’s stock valued at $38,000 after purchasing an additional 80 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Ingredion in the 2nd quarter valued at about $40,000. Finally, Costello Asset Management INC purchased a new position in Ingredion during the first quarter valued at approximately $41,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 850 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $128.39, for a total value of $109,131.50. Following the completion of the sale, the senior vice president directly owned 31,171 shares of the company’s stock, valued at $4,002,044.69. This represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James P. Zallie sold 36,287 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the transaction, the chief executive officer directly owned 50,129 shares of the company’s stock, valued at $6,342,321.08. This represents a 41.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,137 shares of company stock worth $4,700,163. 2.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on INGR. UBS Group decreased their target price on shares of Ingredion from $144.00 to $130.00 and set a “neutral” rating for the company in a research note on Monday. Wall Street Zen lowered Ingredion from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Ingredion in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ingredion has an average rating of “Moderate Buy” and an average target price of $147.20.

Ingredion Stock Up 0.2%

INGR stock opened at $119.78 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. Ingredion Incorporated has a 52-week low of $119.31 and a 52-week high of $155.44. The company has a 50-day moving average of $125.08 and a two-hundred day moving average of $131.36. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 0.95 and a beta of 0.74.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.09. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the firm earned $2.87 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. As a group, equities research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st will be paid a $0.82 dividend. The ex-dividend date is Wednesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.80. This represents a $3.28 annualized dividend and a dividend yield of 2.7%. Ingredion’s dividend payout ratio is 32.00%.

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.