Westover Capital Advisors LLC Sells 1,334 Shares of Ingredion Incorporated $INGR

Westover Capital Advisors LLC reduced its stake in Ingredion Incorporated (NYSE:INGR) by 5.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,888 shares of the company’s stock after selling 1,334 shares during the period. Westover Capital Advisors LLC’s holdings in Ingredion were worth $3,104,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealthspire Advisors LLC increased its holdings in shares of Ingredion by 5.8% during the first quarter. Wealthspire Advisors LLC now owns 1,685 shares of the company’s stock worth $228,000 after buying an additional 92 shares in the last quarter. Amalgamated Bank raised its position in Ingredion by 0.3% in the second quarter. Amalgamated Bank now owns 30,187 shares of the company’s stock valued at $4,094,000 after purchasing an additional 93 shares during the last quarter. State of Michigan Retirement System raised its position in Ingredion by 0.6% in the second quarter. State of Michigan Retirement System now owns 15,488 shares of the company’s stock valued at $2,100,000 after purchasing an additional 100 shares during the last quarter. Bell Investment Advisors Inc boosted its stake in shares of Ingredion by 41.2% during the first quarter. Bell Investment Advisors Inc now owns 346 shares of the company’s stock valued at $47,000 after purchasing an additional 101 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Ingredion by 3.7% during the second quarter. ProShare Advisors LLC now owns 2,851 shares of the company’s stock worth $387,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on INGR shares. UBS Group dropped their price objective on shares of Ingredion from $130.00 to $119.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Oppenheimer set a $136.00 price target on shares of Ingredion in a research report on Wednesday, October 22nd. Stephens cut their price target on shares of Ingredion from $140.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings cut shares of Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, Zacks Research lowered Ingredion from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $124.33.

Ingredion Price Performance

Ingredion stock opened at $107.06 on Tuesday. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 0.95 and a beta of 0.72. Ingredion Incorporated has a 52-week low of $102.31 and a 52-week high of $150.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78. The stock’s 50 day moving average price is $118.36 and its two-hundred day moving average price is $128.41.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.02. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.90 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. On average, equities analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Wednesday, October 1st were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.1%. This is a boost from Ingredion’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Wednesday, October 1st. Ingredion’s payout ratio is 32.70%.

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.