Ingles Markets, Incorporated (NASDAQ:IMKTA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,218 shares of the company’s stock after selling 12,716 shares during the quarter. Bank of New York Mellon Corp owned 0.49% of Ingles Markets worth $6,007,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of IMKTA. Charles Schwab Investment Management Inc. lifted its holdings in Ingles Markets by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 405,558 shares of the company’s stock valued at $30,255,000 after acquiring an additional 31,027 shares during the period. Geode Capital Management LLC lifted its holdings in Ingles Markets by 3.7% in the third quarter. Geode Capital Management LLC now owns 399,190 shares of the company’s stock valued at $29,785,000 after acquiring an additional 14,264 shares during the period. Systematic Financial Management LP lifted its holdings in Ingles Markets by 8.3% in the third quarter. Systematic Financial Management LP now owns 196,671 shares of the company’s stock valued at $14,672,000 after acquiring an additional 15,107 shares during the period. Empowered Funds LLC lifted its holdings in Ingles Markets by 13.1% in the fourth quarter. Empowered Funds LLC now owns 104,366 shares of the company’s stock valued at $6,725,000 after acquiring an additional 12,084 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Ingles Markets by 49.7% in the third quarter. JPMorgan Chase & Co. now owns 54,652 shares of the company’s stock valued at $4,077,000 after acquiring an additional 18,141 shares during the period. 62.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Ingles Markets from a “buy” rating to a “hold” rating in a report on Monday, February 10th.

Ingles Markets Trading Down 0.3 %

Shares of IMKTA stock opened at $61.59 on Monday. Ingles Markets, Incorporated has a fifty-two week low of $58.92 and a fifty-two week high of $82.01. The stock has a market cap of $1.17 billion, a P/E ratio of 14.88 and a beta of 0.71. The business has a fifty day simple moving average of $64.04 and a 200-day simple moving average of $67.05. The company has a quick ratio of 1.45, a current ratio of 3.24 and a debt-to-equity ratio of 0.33.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.87 earnings per share for the quarter. Ingles Markets had a return on equity of 5.09% and a net margin of 1.45%.

Ingles Markets Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, January 10th. Ingles Markets’s dividend payout ratio is currently 15.94%.

About Ingles Markets

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.