The Vanguard Group, Inc. recently announced the acquisition of new stake in Ingredion Incorporated (NYSE:INGR). The institutional investor has increased its shareholding in the Consumer Defensive company by 0.70% to 6.94 million shares with purchase of 47894.0 shares. This fresh investment now brings its stake to 10.58% valued currently at $679.48 million. In addition, LSV Asset Management raised its holdings by 15174.0 to 2.6 million shares. And Dimensional Fund Advisors LP has lifted its position by 4.03% or 92830.0 shares – to 2.4 million shares.
With over 0.26 million Ingredion Incorporated (INGR) shares trading Friday and a closing price of $100.15 on the day, the dollar volume was approximately $25.69 million. The shares have shown a positive half year performance of 16.64% and its price on 01/13/23 lost nearly -0.23%. Currently, there are 65.80M common shares owned by the public and among those 65.06M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for INGR have a consensus price objective of $99.60. The analysts have set the share’s price value over the next 12 months at a high of $105.00 and a low of $93.00. The average price target is -0.55% below its recent price level and a downside to the estimated low will see the stock lose -7.69% over that period. But an upside of 4.62% will see the stock hit the forecast high price target while median target price for the stock is $100.00.
Insiders at the company have transacted a total of 79 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 48 of these insider trades were purchases, accounting for 64,138 shares. Insider sales of the common stock occurred on 31 occasions, with total insider shares sold totaling 19,241 shares.
The top 3 mutual fund holders in Ingredion Incorporated are iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. iShares Core S&P Mid Cap ETF owns 2.02 million shares of the company’s stock, all valued at over $198.06 million. The company sold 385.0 shares recently to bring their total holdings to about 3.09% of the shares outstanding. Vanguard Total Stock Market Index bought 1924.0 shares to see its total holdings expand to 1.87 million shares valued at over $183.14 million and representing 2.85% of the shares outstanding. Vanguard Small Cap Index Fund bought 1732.0 shares to bring its total holdings to over 1.61 million shares at a value of $157.46 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.45% of the shares outstanding.
Shares of Ingredion Incorporated (NYSE: INGR) opened at $100.21, down -$0.17 from a prior closing price of $100.38. However, the script later moved the day high at 100.69, down -0.23%. The company’s stock has a 5-day price change of 1.24% and 20.13% over the past three months. INGR shares are trading 2.27% year to date (YTD), with the 12-month market performance down to -0.01% lower. It has a 12-month low price of $78.81 and touched a high of $101.89 over the same period. INGR has an average intraday trading volume of 277.83K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.75%, 3.48%, and 11.10% respectively.
Institutional ownership of Ingredion Incorporated (NYSE: INGR) shares accounts for 89.00% of the company’s 65.80M shares outstanding. Mutual fund holders own 47.88%, while other institutional holders and individual stakeholders account for 5.99% and 40.03% respectively.
It has a market capitalization of $6.58B and a beta (3y monthly) value of 0.77. The stock’s trailing 12-month PE ratio is 15.13, while the earnings-per-share (ttm) stands at $6.62. The company has a PEG of 1.53 and a Quick Ratio of 0.90 with the debt-to-equity ratio at 0.80. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.35% over the week and 1.46% over the month.
Analysts forecast that Ingredion Incorporated (INGR) will achieve an EPS of $1.62 for the current quarter, $1.41 for the next quarter and $7.83 for 2023. The lowest estimate earnings-per-share for the quarter is $1.53 while analysts give the company a high EPS estimate of $1.69. Comparatively, EPS for the current quarter was $1.67 a year ago. Earnings per share for the fiscal year are expected to decrease by -66.50%, and 10.75% over the next financial year. EPS should grow at an annualized rate of 9.90% over the next five years, compared to -23.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Ingredion Incorporated (INGR) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 4 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the INGR, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on September 30, 2022, with the firm’s price target at $89. Credit Suisse coverage for the Ingredion Incorporated (INGR) stock in a research note released on April 12, 2022 offered a Neutral rating with a price target of $94. Barclays was of a view on November 09, 2021 that the stock is Overweight, while Credit Suisse gave the stock Outperform rating on November 03, 2021, issuing a price target of $93- $110. BMO Capital Markets on their part issued Outperform rating on November 03, 2021.