Raymond James Financial Services Advisors Inc. Reduces Holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Raymond James Financial Services Advisors Inc. lowered its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,131 shares of the company’s stock after selling 318 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Ingles Markets were worth $270,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Ziegler Capital Management LLC raised its stake in shares of Ingles Markets by 2.2% during the fourth quarter. Ziegler Capital Management LLC now owns 10,993 shares of the company’s stock valued at $949,000 after purchasing an additional 240 shares during the period. American Century Companies Inc. raised its stake in shares of Ingles Markets by 9.5% during the third quarter. American Century Companies Inc. now owns 257,857 shares of the company’s stock valued at $19,424,000 after purchasing an additional 22,400 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Ingles Markets during the third quarter valued at approximately $1,382,000. Caxton Associates LP bought a new stake in shares of Ingles Markets in the third quarter worth $224,000. Finally, Qube Research & Technologies Ltd increased its stake in shares of Ingles Markets by 26.2% in the third quarter. Qube Research & Technologies Ltd now owns 74,002 shares of the company’s stock worth $5,575,000 after buying an additional 15,383 shares during the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Ingles Markets Stock Performance

Ingles Markets stock opened at $74.28 on Tuesday. Ingles Markets, Incorporated has a 12 month low of $72.72 and a 12 month high of $94.68. The company has a market cap of $1.41 billion, a PE ratio of 7.64 and a beta of 0.60. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.22 and a quick ratio of 1.45. The company has a fifty day moving average price of $75.41 and a two-hundred day moving average price of $80.12.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings results on Thursday, February 8th. The company reported $2.28 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 3.14% and a return on equity of 12.92%. The company had revenue of $1.48 billion during the quarter.

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, April 11th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.89%. The ex-dividend date was Wednesday, April 10th. Ingles Markets’s payout ratio is currently 6.79%.

Insider Buying and Selling

In related news, Director Sharp Laura Ingle sold 4,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $76.25, for a total value of $305,000.00. Following the completion of the sale, the director now owns 20,700 shares of the company’s stock, valued at $1,578,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 8,000 shares of company stock valued at $607,000 over the last 90 days. 23.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IMKTA. TheStreet lowered shares of Ingles Markets from a “b” rating to a “c+” rating in a research note on Monday, February 26th. StockNews.com lowered shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 9th.

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.