JPMorgan Chase & Co. Sells 176,377 Shares of Ingredion Incorporated (INGR)

JPMorgan Chase & Co. decreased its position in Ingredion Incorporated (NYSE:INGR) by 19.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 725,478 shares of the company’s stock after selling 176,377 shares during the period. JPMorgan Chase & Co. owned about 1.01% of Ingredion worth $87,638,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its position in Ingredion by 10.6% during the second quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock worth $113,000 after acquiring an additional 91 shares during the last quarter. WFG Advisors LP increased its stake in Ingredion by 0.4% during the 2nd quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock worth $164,000 after buying an additional 6 shares during the period. First Mercantile Trust Co. increased its stake in Ingredion by 19.3% during the 2nd quarter. First Mercantile Trust Co. now owns 1,432 shares of the company’s stock worth $171,000 after buying an additional 232 shares during the period. Penserra Capital Management LLC grew its holdings in Ingredion by 17.2% during the 2nd quarter. Penserra Capital Management LLC now owns 1,456 shares of the company’s stock worth $173,000 after acquiring an additional 214 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Ingredion by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 1,506 shares of the company’s stock valued at $180,000 after buying an additional 116 shares in the last quarter. 83.44% of the stock is owned by institutional investors.

Ingredion Incorporated (NYSE INGR) traded up $0.38 during trading hours on Tuesday, reaching $140.09. 471,600 shares of the company’s stock traded hands, compared to its average volume of 431,098. Ingredion Incorporated has a 52-week low of $113.07 and a 52-week high of $140.85. The stock has a market cap of $10,040.26, a P/E ratio of 18.26, a P/E/G ratio of 1.65 and a beta of 0.72. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.41 and a quick ratio of 1.53.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.17. Ingredion had a net margin of 8.73% and a return on equity of 20.92%. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the company earned $1.96 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. sell-side analysts predict that Ingredion Incorporated will post 7.71 EPS for the current year.

In other Ingredion news, SVP Jorgen Kokke sold 20,674 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $133.00, for a total transaction of $2,749,642.00. Following the sale, the senior vice president now directly owns 23,119 shares of the company’s stock, valued at approximately $3,074,827. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James P. Zallie sold 27,972 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $125.39, for a total transaction of $3,507,409.08. Following the sale, the vice president now directly owns 29,429 shares in the company, valued at $3,690,102.31. The disclosure for this sale can be found here. Insiders have sold a total of 70,508 shares of company stock worth $8,990,676 over the last ninety days. 1.92% of the stock is owned by corporate insiders.

INGR has been the subject of a number of analyst reports. Jefferies Group set a $145.00 price objective on shares of Ingredion and gave the stock a “buy” rating in a research report on Sunday, October 29th. Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $139.00 target price for the company in a report on Wednesday, September 6th. BidaskClub upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a report on Friday, October 6th. Finally, BMO Capital Markets restated a “hold” rating and set a $125.00 target price on shares of Ingredion in a report on Friday, September 29th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $140.00.

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About Ingredion

Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.

Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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