Prudential Financial Inc. Sells 6,800 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Prudential Financial Inc. lowered its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 20.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,415 shares of the company’s stock after selling 6,800 shares during the period. Prudential Financial Inc. owned 0.14% of Ingles Markets worth $1,702,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IMKTA. FNY Investment Advisers LLC acquired a new position in shares of Ingles Markets during the fourth quarter valued at about $96,000. Captrust Financial Advisors bought a new position in Ingles Markets in the 3rd quarter valued at about $206,000. Exchange Traded Concepts LLC boosted its stake in Ingles Markets by 4.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,369 shares of the company’s stock valued at $282,000 after purchasing an additional 187 shares during the last quarter. Ballentine Partners LLC increased its holdings in Ingles Markets by 7.5% during the 4th quarter. Ballentine Partners LLC now owns 4,523 shares of the company’s stock worth $291,000 after purchasing an additional 314 shares in the last quarter. Finally, IHT Wealth Management LLC bought a new stake in Ingles Markets during the 3rd quarter worth approximately $314,000. Institutional investors and hedge funds own 62.54% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Ingles Markets from a “buy” rating to a “hold” rating in a research note on Monday, February 10th.

Ingles Markets Stock Down 0.7 %

IMKTA opened at $62.12 on Friday. The company’s 50-day moving average price is $63.85 and its two-hundred day moving average price is $66.06. 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, Incorporated has a twelve month low of $58.92 and a twelve month high of $82.01. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 15.00 and a beta of 0.75.

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

Ingles Markets Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $0.66 annualized dividend and a dividend yield of 1.06%. 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.