Raymond James & Associates decreased its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA – Free Report) by 1.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 66,430 shares of the company’s stock after selling 1,089 shares during the period. Raymond James & Associates’ holdings in Ingles Markets were worth $5,490,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in Ingles Markets by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,212,017 shares of the company’s stock worth $96,004,000 after purchasing an additional 15,239 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Ingles Markets by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,209,080 shares of the company’s stock worth $107,244,000 after purchasing an additional 11,903 shares in the last quarter. BlackRock Inc. raised its stake in Ingles Markets by 3.8% in the 1st quarter. BlackRock Inc. now owns 1,101,696 shares of the company’s stock worth $97,720,000 after purchasing an additional 39,930 shares in the last quarter. River Road Asset Management LLC raised its position in shares of Ingles Markets by 3.5% in the 2nd quarter. River Road Asset Management LLC now owns 808,441 shares of the company’s stock valued at $66,818,000 after buying an additional 27,369 shares in the last quarter. Finally, State Street Corp raised its position in shares of Ingles Markets by 11.1% in the 1st quarter. State Street Corp now owns 374,095 shares of the company’s stock valued at $33,182,000 after buying an additional 37,266 shares in the last quarter. Institutional investors and hedge funds own 62.58% of the company’s stock.
Ingles Markets Trading Down 2.8 %
Shares of Ingles Markets stock opened at $78.15 on Tuesday. The firm has a market capitalization of $1.48 billion, a PE ratio of 6.51 and a beta of 0.68. The company has a current ratio of 2.86, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The firm’s 50 day moving average is $78.10 and its 200 day moving average is $82.55. Ingles Markets, Incorporated has a 1 year low of $73.38 and a 1 year high of $102.99.
Ingles Markets Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, October 19th. Investors of record on Thursday, October 12th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Wednesday, October 11th. Ingles Markets’s dividend payout ratio (DPR) is presently 5.50%.
Insiders Place Their Bets
In other Ingles Markets news, Director Sharp Laura Ingle sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $75.05, for a total transaction of $150,100.00. Following the sale, the director now directly owns 42,700 shares of the company’s stock, valued at approximately $3,204,635. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 25,298 shares of company stock valued at $1,918,156 in the last ninety days. 31.90% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Separately, StockNews.com cut shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 11th.
View Our Latest Research Report on IMKTA
Ingles Markets Company Profile
Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.
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