South Dakota Investment Council raised its holdings in shares of Ingredion Inc (NYSE:INGR) by 23.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,500 shares of the company’s stock after buying an additional 5,110 shares during the period. South Dakota Investment Council’s holdings in Ingredion were worth $2,186,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in INGR. Harvest Group Wealth Management LLC bought a new stake in shares of Ingredion during the 1st quarter worth approximately $36,000. Advisory Services Network LLC boosted its holdings in Ingredion by 65.4% during the 2nd quarter. Advisory Services Network LLC now owns 407 shares of the company’s stock valued at $33,000 after acquiring an additional 161 shares during the period. Steward Partners Investment Advisory LLC bought a new position in Ingredion in the 2nd quarter valued at $50,000. Zions Bancorporation N.A. bought a new position in Ingredion in the 1st quarter valued at $63,000. Finally, Signaturefd LLC grew its position in Ingredion by 49.5% in the 1st quarter. Signaturefd LLC now owns 1,159 shares of the company’s stock valued at $110,000 after acquiring an additional 384 shares during the last quarter. 87.85% of the stock is currently owned by hedge funds and other institutional investors.
INGR has been the subject of several research analyst reports. Citigroup decreased their target price on Ingredion from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Credit Suisse Group lowered their target price on shares of Ingredion from $85.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Ingredion from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Ingredion presently has a consensus rating of “Hold” and an average price target of $102.33.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.06. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.47 billion. Ingredion had a return on equity of 17.23% and a net margin of 6.61%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.66 EPS. As a group, research analysts anticipate that Ingredion Inc will post 6.68 earnings per share for the current fiscal year.
Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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