Comerica Bank Sells 217 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Comerica Bank lessened its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,730 shares of the company’s stock after selling 217 shares during the quarter. Comerica Bank’s holdings in Ingles Markets were worth $176,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Ingles Markets by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,234,699 shares of the company’s stock valued at $79,564,000 after purchasing an additional 7,541 shares in the last quarter. River Road Asset Management LLC boosted its position in shares of Ingles Markets by 0.6% in the 4th quarter. River Road Asset Management LLC now owns 976,424 shares of the company’s stock worth $62,921,000 after purchasing an additional 5,398 shares in the last quarter. Brandes Investment Partners LP boosted its position in shares of Ingles Markets by 42.4% in the 4th quarter. Brandes Investment Partners LP now owns 533,982 shares of the company’s stock worth $34,410,000 after purchasing an additional 159,097 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Ingles Markets by 11.2% in the 4th quarter. American Century Companies Inc. now owns 475,894 shares of the company’s stock worth $30,667,000 after purchasing an additional 47,859 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Ingles Markets by 11.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 453,558 shares of the company’s stock worth $29,227,000 after purchasing an additional 48,000 shares in the last quarter. Institutional investors own 62.54% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Ingles Markets from a “hold” rating to a “buy” rating in a research report on Tuesday, May 6th.

Ingles Markets Stock Up 0.9%

Ingles Markets stock opened at $62.82 on Friday. The business’s 50-day simple moving average is $62.67 and its two-hundred day simple moving average is $65.29. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.45 and a current ratio of 3.24. The company has a market cap of $1.19 billion, a PE ratio of 15.17 and a beta of 0.73. Ingles Markets, Incorporated has a fifty-two week low of $58.92 and a fifty-two week high of $82.01.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.80 earnings per share (EPS) for the quarter. Ingles Markets had a return on equity of 5.09% and a net margin of 1.45%.

Ingles Markets Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Thursday, April 10th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, April 10th. Ingles Markets’s payout ratio is 20.25%.

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.