Ingles Markets, Incorporated $IMKTA Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG has reduced its stake in Ingles Markets, Inc. by 44.2%, selling 14,975 shares during the first quarter, and now holds approximately 0.10% of the company valued at $1.23 million.
• The stock price of Ingles Markets has fluctuated between a 12-month low of $58.92 and a high of $75.63, currently opening at $67.98.
• Ingles Markets recently declared a quarterly dividend of $0.165 per share, with a payout ratio of 22.22% and an annualized yield of 1.0%.

Deutsche Bank AG lowered its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 44.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,895 shares of the company's stock after selling 14,975 shares during the quarter. Deutsche Bank AG owned 0.10% of Ingles Markets worth $1,231,000 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 stock. Charles Schwab Investment Management Inc. increased its position in shares of Ingles Markets by 9.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 497,217 shares of the company's stock worth $32,384,000 after acquiring an additional 43,659 shares during the period. Vanguard Group Inc. lifted its position in shares of Ingles Markets by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 1,257,669 shares of the company's stock worth $81,912,000 after purchasing an additional 22,970 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Ingles Markets during the 1st quarter worth $404,000. Factorial Partners LLC lifted its position in shares of Ingles Markets by 3.2% during the 1st quarter. Factorial Partners LLC now owns 31,996 shares of the company's stock worth $2,084,000 after purchasing an additional 1,000 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Ingles Markets during the 1st quarter worth $357,000. Hedge funds and other institutional investors own 62.54% of the company's stock.

Ingles Markets Stock Performance

Ingles Markets stock traded up $0.07 during mid-day trading on Friday, reaching $67.69. 113,433 shares of the company were exchanged, compared to its average volume of 130,250. The firm has a market cap of $1.29 billion, a PE ratio of 22.79 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.53 and a current ratio of 3.14. The firm's 50-day simple moving average is $65.10 and its two-hundred day simple moving average is $63.33. Ingles Markets, Incorporated has a twelve month low of $58.92 and a twelve month high of $75.63.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.38 earnings per share (EPS) for the quarter. Ingles Markets had a return on equity of 3.60% and a net margin of 1.05%.

Ingles Markets Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Thursday, July 10th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 10th. Ingles Markets's dividend payout ratio (DPR) is currently 22.22%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Ingles Markets from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th.

Ingles Markets Company 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.