Capstone Investment Advisors LLC Trims Stock Position in Ingredion Incorporated (NYSE:INGR)

Capstone Investment Advisors LLC lessened its stake in shares of Ingredion Incorporated (NYSE:INGR) by 18.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,465 shares of the company’s stock after selling 547 shares during the quarter. Capstone Investment Advisors LLC’s holdings in Ingredion were worth $339,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in INGR. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Ingredion in the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its holdings in Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ingredion during the second quarter worth about $33,000. Prospera Private Wealth LLC purchased a new position in Ingredion in the 3rd quarter valued at approximately $41,000. Finally, Family Firm Inc. acquired a new position in shares of Ingredion during the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Stock Up 0.2 %

INGR opened at $147.34 on Friday. The company has a market capitalization of $9.60 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.26 and a beta of 0.73. The business has a 50-day moving average of $139.58 and a 200-day moving average of $128.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. Ingredion Incorporated has a fifty-two week low of $101.00 and a fifty-two week high of $155.44.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.58 by $0.47. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm posted $2.33 EPS. The business’s quarterly revenue was down 8.0% on a year-over-year basis. Equities research analysts forecast that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

Analysts Set New Price Targets

INGR has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Oppenheimer raised their target price on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. UBS Group lifted their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets increased their price objective on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.17.

Insider Activity

In related news, CEO James P. Zallie sold 371 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the sale, the chief executive officer now directly owns 52,159 shares in the company, valued at $6,967,399.22. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. The trade was a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,328 shares of company stock worth $1,649,741. 1.80% of the stock is owned by corporate insiders.

About Ingredion

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.