Ingredion Incorporated $INGR Shares Acquired by Jacobi Capital Management LLC

Jacobi Capital Management LLC raised its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 10.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,785 shares of the company’s stock after purchasing an additional 257 shares during the period. Jacobi Capital Management LLC’s holdings in Ingredion were worth $377,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Jump Financial LLC boosted its holdings in Ingredion by 474.2% in the first quarter. Jump Financial LLC now owns 11,501 shares of the company’s stock valued at $1,555,000 after purchasing an additional 9,498 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Ingredion in the first quarter worth about $646,000. Jupiter Asset Management Ltd. raised its position in shares of Ingredion by 38.2% in the first quarter. Jupiter Asset Management Ltd. now owns 342,190 shares of the company’s stock worth $46,268,000 after acquiring an additional 94,575 shares during the period. Brown Advisory Inc. raised its position in shares of Ingredion by 8.4% during the 1st quarter. Brown Advisory Inc. now owns 2,318 shares of the company’s stock worth $313,000 after purchasing an additional 180 shares during the last quarter. Finally, Transcend Capital Advisors LLC raised its position in shares of Ingredion by 156.7% during the 1st quarter. Transcend Capital Advisors LLC now owns 11,086 shares of the company’s stock worth $1,499,000 after purchasing an additional 6,768 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group increased their price objective on shares of Ingredion from $149.00 to $151.00 and gave the company a “neutral” rating in a report on Wednesday, July 9th. Wall Street Zen upgraded shares of Ingredion from a “hold” rating to a “buy” rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ingredion presently has an average rating of “Hold” and an average target price of $151.40.

Insider Buying and Selling

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

Ingredion Stock Performance

NYSE:INGR opened at $126.25 on Friday. 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 has a market capitalization of $8.10 billion, a P/E ratio of 12.32, a PEG ratio of 1.02 and a beta of 0.77. The company has a 50 day moving average price of $129.91 and a 200 day moving average price of $132.74. Ingredion Incorporated has a fifty-two week low of $120.51 and a fifty-two week high of $155.44.

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 analysts’ consensus estimates of $2.78 by $0.09. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $2.87 EPS. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. Equities research analysts forecast 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. Investors of record on Wednesday, October 1st will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.80. Ingredion’s dividend payout ratio is 31.22%.

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.