Ameriprise Financial Inc. Decreases Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Ameriprise Financial Inc. reduced its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 62.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,593 shares of the company's stock after selling 5,895 shares during the period. Ameriprise Financial Inc.'s holdings in Ingles Markets were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IMKTA. Avidian Wealth Enterprises LLC grew its holdings in Ingles Markets by 2.1% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 7,443 shares of the company's stock valued at $480,000 after buying an additional 150 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Ingles Markets by 0.3% during the 4th quarter. Wells Fargo & Company MN now owns 61,502 shares of the company's stock valued at $3,963,000 after acquiring an additional 184 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Ingles Markets by 3.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,577 shares of the company's stock valued at $424,000 after purchasing an additional 249 shares during the period. Sterling Capital Management LLC increased its position in Ingles Markets by 811.8% during the fourth quarter. Sterling Capital Management LLC now owns 465 shares of the company's stock worth $30,000 after purchasing an additional 414 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Ingles Markets by 6.3% during the fourth quarter. Franklin Resources Inc. now owns 7,369 shares of the company's stock worth $475,000 after purchasing an additional 436 shares during the last quarter. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Ingles Markets Trading Up 1.2%

Ingles Markets stock traded up $0.75 during mid-day trading on Tuesday, hitting $61.51. The company's stock had a trading volume of 86,517 shares, compared to its average volume of 123,408. The stock's fifty day moving average is $62.08 and its two-hundred day moving average is $64.28. 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 firm has a market capitalization of $1.17 billion, a PE ratio of 14.86 and a beta of 0.71. Ingles Markets, Incorporated has a 1 year low of $58.92 and a 1 year high of $82.01.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.80 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 business also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.07%. The ex-dividend date was Thursday, April 10th. Ingles Markets's dividend payout ratio (DPR) is presently 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.

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.