Citigroup Maintains Ingredion Inc to Buy with Price Target $140.00

Brokerage firm Citigroup Maintains its rating on Ingredion Inc(NYSE:INGR). In a research note issued to the investors, the brokerage major Raises the price-target to $140.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Jun 15, 2016.

Ingredion Inc (INGR) made into the market gainers list on Tuesdays trading session with the shares advancing 0.60% or 0.75 points. Due to strong positive momentum, the stock ended at $124.97, which is also near the day’s high of $125.25. The stock began the session at $124.57 and the volume stood at 6,94,497 shares. The 52-week high of the shares is $125.25 and the 52 week low is $79.31. The company has a current market capitalization of $8,996 M and it has 7,19,87,000 shares in outstanding.

Ingredion Inc has also declared a cash dividend of $0.4500 on May 18, 2016. The shares will quote ex-dividend on Jun 28, 2016 and the record date has been fixed on Jun 30, 2016. The dividend payable date has been fixed on Jul 25, 2016.

Ingredion Inc(INGR) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.36B. Analysts had an estimated revenue of $1.34B. Earnings per share were $1.74. Analysts had estimated an EPS of $1.39.

Several Insider Transactions has been reported to the SEC. On Jun 10, 2016, Jorgen Kokke (Sr VP & Pres, Asia-Pac & EMEA) sold 10,658 shares at $119.47 per share price.Also, On May 27, 2016, Diane J Frisch (Sr. VP, Human Resources) sold 6,400 shares at $118.99 per share price.On May 13, 2016, Jack C Fortnum (Exec. VP and CFO) sold 10,000 shares at $117.95 per share price, according to the Form-4 filing with the securities and exchange commission.

Ingredion Incorporated is a manufacturer and supplier of starch and sweetener ingredients to a range of industries including packaged food beverage brewing industrial pharmaceutical and personal care customers. The Company operates in four business segments: North America South America Asia Pacific and EMEA. North America segment consists of operations in the United States Canada and Mexico and produces a range of both sweeteners and starches. South America segment includes 11 plants that produce regular modified waxy and tapioca starches fructose and maltose syrups and syrup solids dextrins and maltodextrins dextrose specialty starches caramel color sorbitol and vegetable adhesives. Asia Pacific segment manufactures corn-based products in South Korea Australia and China and tapioca-based products in Thailand. EMEA segment includes five plants that produce modified and specialty starches glucose and dextrose in England Germany and Pakistan.

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