Raymond James & Associates Has $6.66 Million Stake in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Raymond James & Associates decreased its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA – Get Rating) by 1.8% in the fourth quarter, according to the company in its most recent 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 period. Raymond James & Associates owned 0.36% of Ingles Markets worth $6,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Godsey & Gibb Inc. acquired a new position in Ingles Markets during the 4th quarter worth $29,000. Ensign Peak Advisors Inc acquired a new position in shares of Ingles Markets during the third quarter valued at about $35,000. National Bank of Canada FI raised its position in shares of Ingles Markets by 136.4% during the fourth quarter. National Bank of Canada FI now owns 487 shares of the company’s stock valued at $47,000 after buying an additional 281 shares during the last quarter. Ellevest Inc. raised its position in shares of Ingles Markets by 4,536.4% during the third quarter. Ellevest Inc. now owns 510 shares of the company’s stock valued at $40,000 after buying an additional 499 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new position in shares of Ingles Markets during the first quarter valued at about $45,000. Institutional investors and hedge funds own 62.82% of the company’s stock.

Ingles Markets Stock Up 1.0 %

Shares of IMKTA opened at $82.61 on Friday. Ingles Markets, Incorporated has a 52 week low of $78.32 and a 52 week high of $102.99. 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 capitalization of $1.57 billion, a P/E ratio of 6.34 and a beta of 0.66. The company has a 50-day simple moving average of $88.51 and a 200-day simple moving average of $93.09.

Ingles Markets Dividend Announcement

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

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Ingles Markets in a research report on Thursday. They set a “strong-buy” rating for the company.

Insider Buying and Selling

In related news, Director Sharp Laura Ingle sold 500 shares of the stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $92.89, for a total value of $46,445.00. Following the completion of the transaction, the director now owns 2,500 shares of the company’s stock, valued at $232,225. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 31.90% of the company’s stock.

Ingles Markets 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.