Raymond James & Associates Sells 1,266 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Raymond James & Associates reduced its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA – Get Rating) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,040 shares of the company’s stock after selling 1,266 shares during the quarter. Raymond James & Associates’ holdings in Ingles Markets were worth $6,660,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of IMKTA. Teacher Retirement System of Texas boosted its stake in Ingles Markets by 169.3% in the third quarter. Teacher Retirement System of Texas now owns 83,271 shares of the company’s stock valued at $6,596,000 after acquiring an additional 52,346 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Ingles Markets by 20.5% in the first quarter. Renaissance Technologies LLC now owns 252,858 shares of the company’s stock valued at $22,517,000 after acquiring an additional 43,074 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Ingles Markets by 1,318.4% in the first quarter. Hsbc Holdings PLC now owns 34,765 shares of the company’s stock valued at $3,087,000 after acquiring an additional 32,314 shares during the last quarter. Invesco Ltd. boosted its stake in Ingles Markets by 25.0% in the first quarter. Invesco Ltd. now owns 154,373 shares of the company’s stock valued at $13,748,000 after acquiring an additional 30,835 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Ingles Markets by 2.2% in the first quarter. Vanguard Group Inc. now owns 1,174,966 shares of the company’s stock valued at $104,631,000 after acquiring an additional 25,202 shares during the last quarter. 62.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Ingles Markets news, Director Sharp Laura Ingle sold 500 shares of the stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $92.89, for a total value of $46,445.00. Following the sale, the director now directly owns 2,500 shares in the company, valued at $232,225. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 31.90% of the company’s stock.

Ingles Markets Trading Up 1.0 %

IMKTA opened at $82.61 on Friday. The firm’s fifty day moving average is $88.51 and its two-hundred day moving average is $93.09. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.30 and a current ratio of 2.92. The firm has a market cap of $1.57 billion, a PE ratio of 6.34 and a beta of 0.66. Ingles Markets, Incorporated has a twelve month low of $78.32 and a twelve month high of $102.99.

Ingles Markets Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 13th. Shareholders of record on Thursday, April 6th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $0.66 annualized dividend and a yield of 0.80%. Ingles Markets’s dividend payout ratio (DPR) is presently 5.06%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Ingles Markets in a research note on Thursday. They issued a “strong-buy” rating on the stock.

Ingles Markets Company Profile

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Ingles Markets, Inc engages in the operation of a supermarket chain in Georgia, North Carolina, Tennessee, Virginia, and Alabama. It offers its products through the following categories: grocery, non-foods, perishables and other. The grocery products consist of groceries, dairy, and frozen foods. The non-foods products include alcoholic beverages, tobacco, pharmacy, health, beauty, and cosmetic products.