Bank of America Corp DE Sells 30,524 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Bank of America Corp DE decreased its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 44.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,809 shares of the company's stock after selling 30,524 shares during the period. 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 institutional investors and hedge funds have also recently bought and sold shares of IMKTA. Meeder Asset Management Inc. bought a new position in Ingles Markets during the 4th quarter valued at $30,000. Sterling Capital Management LLC boosted its stake in Ingles Markets by 811.8% during the 4th quarter. Sterling Capital Management LLC now owns 465 shares of the company's stock valued at $30,000 after acquiring an additional 414 shares during the last quarter. Anchor Investment Management LLC bought a new position in Ingles Markets during the 4th quarter valued at $64,000. Tower Research Capital LLC TRC boosted its stake in Ingles Markets by 296.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,252 shares of the company's stock valued at $81,000 after acquiring an additional 936 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of Ingles Markets in the 4th quarter worth about $204,000. Institutional investors and hedge funds own 62.54% of the company's stock.

Ingles Markets Stock Performance

NASDAQ:IMKTA traded down $0.14 during mid-day trading on Thursday, hitting $60.47. The stock had a trading volume of 107,064 shares, compared to its average volume of 123,224. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 14.61 and a beta of 0.71. The company has a 50 day simple moving average of $62.28 and a 200-day simple moving average of $64.52. Ingles Markets, Incorporated has a 52 week low of $58.92 and a 52 week high of $82.01. The company has a current ratio of 3.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.33.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.80 earnings per share 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Thursday, April 10th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, April 10th. Ingles Markets's dividend payout ratio is 20.25%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Ingles Markets from a "hold" rating to a "buy" rating in a research 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.