Ingles Markets, Incorporated (NASDAQ:IMKTA) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 44.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 37,809 shares of the company’s stock after selling 30,524 shares during the quarter. Bank of America Corp DE owned 0.20% of Ingles Markets worth $2,436,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IMKTA. Polaris Capital Management LLC lifted its holdings in Ingles Markets by 24.7% during the 4th quarter. Polaris Capital Management LLC now owns 32,800 shares of the company’s stock worth $2,114,000 after buying an additional 6,500 shares in the last quarter. Empowered Funds LLC lifted its holdings in Ingles Markets by 13.1% during the 4th quarter. Empowered Funds LLC now owns 104,366 shares of the company’s stock worth $6,725,000 after buying an additional 12,084 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Ingles Markets by 4.6% during the 4th quarter. New York State Common Retirement Fund now owns 34,020 shares of the company’s stock worth $2,192,000 after buying an additional 1,500 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Ingles Markets by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,234,699 shares of the company’s stock worth $79,564,000 after buying an additional 7,541 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Ingles Markets by 10.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,611 shares of the company’s stock worth $620,000 after buying an additional 936 shares in the last quarter. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Ingles Markets Trading Down 0.5%

Shares of NASDAQ:IMKTA opened at $62.79 on Monday. The company has a current ratio of 3.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average is $62.54 and its two-hundred day moving average is $64.69. 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 52 week low of $58.92 and a 52 week high of $82.01.

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

Ingles Markets Announces Dividend

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

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Ingles Markets from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th.

Ingles Markets Profile

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.