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Inghams Group Ltd ASX:ING

0 opened or increased2 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 2 managers in total.

Position history by manager 2 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

2026

28 Feb 2025 to today

Commentary Showing 2 of 6

DateManagerActionSummary

22 Jun 2026ClearBridge InvestmentsHeldClearBridge Investments continues to hold Inghams Group because it views the heavily beaten-down stock as positioned for a meaningful earnings recovery under its new CEO, who brings a strong track record from the New Zealand operations. The fund notes that demand for chicken remains robust as one of the cheapest protein sources during a cost-of-living crisis, and that volume growth is accelerating alongside new contract wins. ClearBridge highlights that Inghams operates in an effective duopoly, making incremental business wins easier despite the earlier loss of a Woolworths contract. The fund is particularly encouraged by a significant improvement in wholesale profitability over the past six months and notes that management reiterated guidance despite a potential $15 million earnings headwind from higher fuel and transport costs related to Iran.

Article, price recorded $2.00

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15 May 2026First SamuelHeldFirst Samuel continues to hold Inghams because its investor day, attended in person in Sydney with CEO Edward Alexander and senior management, reinforced confidence in the underlying asset's value. The manager notes FY26 EBITDA guidance of $180-200 million pre-AASB16 was maintained despite a Middle East-related fuel and input cost shock, and that excluding that pressure the underlying trading trend appears better than headline numbers suggest, with volumes and net selling prices growing only around 1% so earnings improvement is coming from better execution such as automation, tray packing, fully cooked capability and advanced ingredients supporting better yield and lower waste. The manager remains encouraged by the strategy, though execution and timing of the $60-80 million savings program remain the key issue.

Article, price recorded $1.96

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Articles

22 Jun 2026Inghams Group Fell on a Cost Shock That Masked a Real Turnaround

About Inghams Group Ltd

Consumer Discretionary, Food Products

Inghams Group (ASX:ING), Australia's largest poultry producer, is seen by some fund managers as a beaten-down turnaround. In June 2026, ClearBridge described Inghams as heavily beaten down after losing a Woolworths contract, changing CEOs and facing pressure, but sees recovery potential. First Samuel attended Inghams' investor day and met CEO Edward Alexander and senior management, after earlier reporting a weak first-half result with underlying EBITDA down 35% to $80.6 million. Inghams Group operates in the Consumer Staples sector within the Food Products industry, and Thesis Tracker has captured 6 comments from 2 fund managers, ClearBridge and First Samuel. Founded in 1918 and headquartered in North Ryde, Sydney, Inghams produces chicken and turkey products for supermarkets, quick-service restaurants and food service customers across Australia and New Zealand.

Market cap: $784m
Price to earnings: 23.3x
Return on equity: 13.1%
Dividend yield: 4.9%
Price to book: 3.21x
Net margin: 1.1%
52-week range: $1.69 to $2.69

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Inghams Group Ltd (ASX:ING)?

Fund managers including ClearBridge Investments and First Samuel have invested in Inghams Group Ltd (ASX:ING).

What opportunities or catalysts do fund managers highlight for Inghams Group Ltd?

ClearBridge sees recovery potential in a heavily sold-off stock, and First Samuel highlights a new CEO's productivity and turnaround plans presented at its investor day.

What are the key risks to the Inghams Group Ltd investment thesis, according to fund managers?

ClearBridge and First Samuel note the loss of a Woolworths contract, a CEO change and a 35% fall in first-half EBITDA.

What does Inghams Group Ltd (ASX:ING) do?

Inghams Group Ltd. produces and sells chicken and turkey products. The company operates through two geographic segments: Australia and New Zealand. Founded in 1918, Inghams Group Ltd. is headquartered in Sydney, Australia.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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