PNC Financial Services Group Inc. Sells 2,276 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

PNC Financial Services Group Inc. lowered its stake in Ingles Markets, Incorporated (NASDAQ:IMKTAFree Report) by 54.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,889 shares of the company’s stock after selling 2,276 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ingles Markets were worth $163,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Deutsche Bank AG raised its stake in Ingles Markets by 12.2% during the 3rd quarter. Deutsche Bank AG now owns 7,441 shares of the company’s stock worth $561,000 after buying an additional 807 shares during the period. Rhumbline Advisers lifted its holdings in shares of Ingles Markets by 25.2% in the 3rd quarter. Rhumbline Advisers now owns 28,795 shares of the company’s stock worth $2,169,000 after purchasing an additional 5,787 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Ingles Markets by 26.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 74,002 shares of the company’s stock valued at $5,575,000 after purchasing an additional 15,383 shares during the period. GSA Capital Partners LLP bought a new stake in Ingles Markets during the 3rd quarter valued at $1,382,000. Finally, American Century Companies Inc. raised its holdings in Ingles Markets by 9.5% during the third quarter. American Century Companies Inc. now owns 257,857 shares of the company’s stock worth $19,424,000 after buying an additional 22,400 shares during the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.

Ingles Markets Stock Down 0.4 %

Ingles Markets stock opened at $68.02 on Thursday. The company has a current ratio of 3.20, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34. The firm’s fifty day moving average price is $71.45 and its two-hundred day moving average price is $76.68. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 7.34 and a beta of 0.66. Ingles Markets, Incorporated has a 1-year low of $67.10 and a 1-year high of $89.59.

Ingles Markets (NASDAQ:IMKTAGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported $1.68 earnings per share (EPS) for the quarter. The business had revenue of $1.37 billion during the quarter. Ingles Markets had a return on equity of 11.97% and a net margin of 3.00%.

Ingles Markets Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Thursday, July 11th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, July 11th. Ingles Markets’s payout ratio is currently 7.12%.

Insider Buying and Selling at Ingles Markets

In other Ingles Markets news, Director Sharp Laura Ingle sold 4,799 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $70.38, for a total value of $337,753.62. Following the completion of the sale, the director now directly owns 5,901 shares of the company’s stock, valued at approximately $415,312.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 16,700 shares of company stock worth $1,160,640. Corporate insiders own 23.10% of the company’s stock.

Ingles Markets Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Ingles Markets (NASDAQ:IMKTA)

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