Bank of New York Mellon Corp Sells 2,542 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Bank of New York Mellon Corp decreased its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 2.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,676 shares of the company’s stock after selling 2,542 shares during the period. Bank of New York Mellon Corp owned about 0.48% of Ingles Markets worth $5,906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in shares of Ingles Markets in the 4th quarter valued at approximately $30,000. Sterling Capital Management LLC boosted its holdings in shares of Ingles Markets by 811.8% in the fourth quarter. Sterling Capital Management LLC now owns 465 shares of the company’s stock valued at $30,000 after acquiring an additional 414 shares in the last quarter. Anchor Investment Management LLC purchased a new stake in shares of Ingles Markets in the fourth quarter valued at about $64,000. Tower Research Capital LLC TRC boosted its holdings in Ingles Markets by 296.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,252 shares of the company’s stock worth $81,000 after buying an additional 936 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Ingles Markets during the fourth quarter worth about $204,000. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Ingles Markets Trading Up 0.3%

NASDAQ:IMKTA opened at $67.51 on Thursday. Ingles Markets, Incorporated has a 12 month low of $58.92 and a 12 month high of $82.01. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 20.71 and a beta of 0.71. The company has a quick ratio of 1.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $63.32 and its 200-day moving average is $63.39.

Ingles Markets (NASDAQ:IMKTA) last announced its earnings results on Thursday, May 8th. The company reported $0.80 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 1.14% and a return on equity of 3.98%.

Ingles Markets Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, July 10th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $0.66 annualized dividend and a yield of 0.98%. Ingles Markets’s dividend payout ratio is currently 20.25%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Ingles Markets from a “hold” rating to a “buy” rating in a research note 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.