Raymond James Financial Services Advisors Inc. Has $270,000 Stake in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Raymond James Financial Services Advisors Inc. trimmed its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 9.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,131 shares of the company’s stock after selling 318 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Ingles Markets were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Ziegler Capital Management LLC raised its stake in Ingles Markets by 2.2% during the fourth quarter. Ziegler Capital Management LLC now owns 10,993 shares of the company’s stock worth $949,000 after acquiring an additional 240 shares in the last quarter. SkyOak Wealth LLC raised its stake in Ingles Markets by 13.2% during the third quarter. SkyOak Wealth LLC now owns 3,176 shares of the company’s stock worth $239,000 after acquiring an additional 371 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Ingles Markets by 2.6% during the third quarter. Janney Montgomery Scott LLC now owns 15,007 shares of the company’s stock worth $1,130,000 after acquiring an additional 375 shares in the last quarter. Swiss National Bank raised its stake in Ingles Markets by 1.3% during the third quarter. Swiss National Bank now owns 31,700 shares of the company’s stock worth $2,388,000 after acquiring an additional 400 shares in the last quarter. Finally, Burney Co. raised its stake in Ingles Markets by 13.8% during the third quarter. Burney Co. now owns 3,508 shares of the company’s stock worth $264,000 after acquiring an additional 425 shares in the last quarter. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on IMKTA. StockNews.com lowered Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 9th. TheStreet lowered Ingles Markets from a “b” rating to a “c+” rating in a research note on Monday, February 26th.

Insider Transactions at Ingles Markets

In other news, Director Sharp Laura Ingle sold 2,000 shares of the stock in a transaction 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 owns 28,700 shares in the company, valued at $2,152,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 8,000 shares of company stock worth $607,000. Insiders own 23.10% of the company’s stock.

Ingles Markets Price Performance

Shares of IMKTA stock opened at $74.28 on Tuesday. The stock’s fifty day moving average is $75.41 and its 200-day moving average is $80.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.45 and a current ratio of 3.22. The stock has a market capitalization of $1.41 billion, a PE ratio of 7.64 and a beta of 0.60. Ingles Markets, Incorporated has a 52 week low of $72.72 and a 52 week high of $94.68.

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

Ingles Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Thursday, April 11th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Wednesday, April 10th. Ingles Markets’s payout ratio is presently 6.79%.

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.