Ingles Markets, Incorporated (NASDAQ:IMKTA) Shares Sold by Arizona State Retirement System

Arizona State Retirement System decreased its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 6.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,850 shares of the company’s stock after selling 252 shares during the quarter. Arizona State Retirement System’s holdings in Ingles Markets were worth $333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IMKTA. Advisor Group Holdings Inc. increased its stake in Ingles Markets by 16.2% during the first quarter. Advisor Group Holdings Inc. now owns 1,852 shares of the company’s stock worth $166,000 after acquiring an additional 258 shares during the last quarter. Bank of New York Mellon Corp increased its position in Ingles Markets by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 128,661 shares of the company’s stock worth $11,456,000 after purchasing an additional 2,344 shares in the last quarter. US Bancorp DE raised its holdings in Ingles Markets by 13.3% in the first quarter. US Bancorp DE now owns 3,093 shares of the company’s stock valued at $275,000 after buying an additional 362 shares during the period. PNC Financial Services Group Inc. lifted its position in Ingles Markets by 278.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,930 shares of the company’s stock valued at $171,000 after buying an additional 1,420 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in Ingles Markets by 58.0% during the first quarter. MetLife Investment Management LLC now owns 7,760 shares of the company’s stock worth $691,000 after buying an additional 2,849 shares during the period. Institutional investors and hedge funds own 62.54% of the company’s stock.

Insider Activity

In other Ingles Markets news, Director Sharp Laura Ingle sold 2,000 shares of Ingles Markets stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $150,000.00. Following the sale, the director now directly owns 28,700 shares in the company, valued at approximately $2,152,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 8,000 shares of company stock worth $607,000 over the last ninety days. Corporate insiders own 23.10% of the company’s stock.

Ingles Markets Stock Up 2.7 %

NASDAQ IMKTA opened at $75.34 on Friday. The company has a quick ratio of 1.45, a current ratio of 3.22 and a debt-to-equity ratio of 0.36. Ingles Markets, Incorporated has a fifty-two week low of $72.72 and a fifty-two week high of $94.68. The business has a 50 day moving average price of $75.48 and a two-hundred day moving average price of $80.15. The stock has a market cap of $1.43 billion, a PE ratio of 7.75 and a beta of 0.60.

Ingles Markets (NASDAQ:IMKTA) last posted its earnings results on Thursday, February 8th. The company reported $2.28 EPS for the quarter. The business had revenue of $1.48 billion for the quarter. Ingles Markets had a net margin of 3.14% and a return on equity of 12.92%.

Ingles Markets Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Thursday, April 11th were given a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $0.66 dividend on an annualized basis and a yield of 0.88%. Ingles Markets’s payout ratio is currently 6.79%.

Analysts Set New Price Targets

IMKTA has been the topic of a number of research reports. TheStreet downgraded shares of Ingles Markets from a “b” rating to a “c+” rating in a research note on Monday, February 26th. StockNews.com lowered Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 9th.

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.