Caisse DE Depot ET Placement DU Quebec Takes Position in Ingredion Incorporated (NYSE:INGR)

Caisse DE Depot ET Placement DU Quebec purchased a new stake in Ingredion Incorporated (NYSE:INGR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 124,386 shares of the company’s stock, valued at approximately $17,094,000. Caisse DE Depot ET Placement DU Quebec owned about 0.19% of Ingredion as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Ingredion during the 2nd quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ingredion in the 2nd quarter valued at about $33,000. Family Firm Inc. acquired a new position in shares of Ingredion in the 2nd quarter valued at about $36,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Ingredion in the 2nd quarter valued at about $36,000. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INGR. UBS Group boosted their price objective on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets boosted their target price on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report 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. Barclays boosted their target price on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Oppenheimer boosted their target price on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.17.

Insider Activity

In other news, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at $4,454,105.94. This represents a 13.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James P. Zallie sold 371 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,328 shares of company stock valued at $1,649,741 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

Shares of INGR opened at $147.34 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The stock has a 50 day moving average price of $139.58 and a two-hundred day moving average price of $128.64. The firm has a market capitalization of $9.60 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.26 and a beta of 0.73. Ingredion Incorporated has a 52 week low of $101.00 and a 52 week high of $155.44.

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

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.