Ingles Markets, Incorporated (NASDAQ:IMKTA) Holdings Cut by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 62.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,593 shares of the company's stock after selling 5,895 shares during the quarter. Ameriprise Financial Inc.'s holdings in Ingles Markets were worth $232,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IMKTA. Brandes Investment Partners LP boosted its holdings in Ingles Markets by 42.4% in the 4th quarter. Brandes Investment Partners LP now owns 533,982 shares of the company's stock valued at $34,410,000 after purchasing an additional 159,097 shares during the period. Raymond James Financial Inc. bought a new position in shares of Ingles Markets during the 4th quarter worth about $3,559,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ingles Markets by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 453,558 shares of the company's stock worth $29,227,000 after acquiring an additional 48,000 shares during the period. American Century Companies Inc. lifted its holdings in shares of Ingles Markets by 11.2% during the 4th quarter. American Century Companies Inc. now owns 475,894 shares of the company's stock worth $30,667,000 after acquiring an additional 47,859 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Ingles Markets by 62.4% during the 4th quarter. Teacher Retirement System of Texas now owns 119,748 shares of the company's stock worth $7,717,000 after acquiring an additional 46,025 shares during the period. Hedge funds and other institutional investors own 62.54% of the company's stock.

Ingles Markets Trading Up 0.8%

Shares of IMKTA stock opened at $60.97 on Friday. Ingles Markets, Incorporated has a 12-month low of $58.92 and a 12-month high of $82.01. The company has a market capitalization of $1.16 billion, a P/E ratio of 14.73 and a beta of 0.71. The firm has a 50-day moving average price of $62.20 and a 200 day moving average price of $64.46. The company has a quick ratio of 1.45, a current ratio of 3.24 and a debt-to-equity ratio of 0.33.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last announced its quarterly 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 1.45% and a return on equity of 5.09%.

Ingles Markets Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Thursday, April 10th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Thursday, April 10th. Ingles Markets's dividend payout ratio is 20.25%.

Analyst Ratings Changes

Separately, Wall Street Zen raised 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.

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