Raymond James & Associates Trims Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Raymond James & Associates lessened its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,236 shares of the company’s stock after selling 198 shares during the quarter. Raymond James & Associates owned 0.28% of Ingles Markets worth $3,971,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Brandes Investment Partners LP grew its position in shares of Ingles Markets by 111.0% during the second quarter. Brandes Investment Partners LP now owns 196,753 shares of the company’s stock worth $13,480,000 after purchasing an additional 103,507 shares in the last quarter. Systematic Financial Management LP grew its position in shares of Ingles Markets by 103.1% during the second quarter. Systematic Financial Management LP now owns 181,564 shares of the company’s stock worth $12,457,000 after purchasing an additional 92,164 shares in the last quarter. American Century Companies Inc. grew its position in shares of Ingles Markets by 9.5% during the second quarter. American Century Companies Inc. now owns 369,184 shares of the company’s stock worth $25,330,000 after purchasing an additional 32,013 shares in the last quarter. Denali Advisors LLC grew its position in shares of Ingles Markets by 40.6% during the second quarter. Denali Advisors LLC now owns 92,102 shares of the company’s stock worth $6,319,000 after purchasing an additional 26,607 shares in the last quarter. Finally, Boston Partners purchased a new stake in shares of Ingles Markets during the first quarter worth about $871,000. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 21st.

Ingles Markets Trading Up 1.9 %

IMKTA opened at $65.05 on Monday. The stock’s fifty day moving average is $68.34 and its two-hundred day moving average is $71.13. The company has a market capitalization of $1.24 billion, a P/E ratio of 7.74 and a beta of 0.72. Ingles Markets, Incorporated has a 52 week low of $59.73 and a 52 week high of $89.59. The company has a quick ratio of 1.49, a current ratio of 2.99 and a debt-to-equity ratio of 0.34.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.67 earnings per share (EPS) for the quarter. The business had revenue of $1.39 billion for the quarter. Ingles Markets had a return on equity of 10.58% and a net margin of 2.74%.

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 10th were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.66 annualized dividend and a dividend yield of 1.01%. Ingles Markets’s dividend payout ratio (DPR) is presently 7.86%.

Ingles Markets Company Profile

Ingles Markets, Incorporated, together with its subsidiaries, 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.