10 Cheap Food Stocks to Buy According to Hedge Funds

8. Ingredion Incorporated (NYSE:INGR)

Forward P/E: 11.92

Number of Hedge Fund Holders: 36

Ingredion Incorporated (NYSE:INGR) is a global ingredients solutions provider that transforms fruits, vegetables, grains, and other plant-based materials into value-added ingredient solutions for several markets, including food, beverage, animal nutrition, brewing, and industrial markets. The company’s products are primarily derived from the processing of corn and other starch-based materials, including rice, potato, and tapioca. It operates through four segments: North America, South America, Asia-Pacific, and Europe, Middle East and Africa (EMEA).

Ingredion Incorporated (NYSE:INGR) reported a 6% and 9% dip in its net sales in fiscal Q4 2024 and full year 2024, respectively. This drop was attributed to factors such as price mix challenges, foreign exchange impacts, and a decrease in revenue due to the sale of its South Korean business.

However, the company’s EPS for fiscal Q4 2024 came to $2.63, surpassing analyst estimates and reflecting a 34% growth compared to last year. Adjusted EPS for the full year 2024 stood at $10.65, compared to $9.42 in 2023. This growth was attributed to continued sales volume momentum in the Texture & Healthful Solutions and Food & Industrial Ingredients segments. In 2024, Ingredion Incorporated (NYSE:INGR) reiterated its commitment to robust shareholder returns through $210 million in dividends and $216 million of share repurchases. It is determined to continue returning value to shareholders in the future.