HighTower Advisors LLC Trims Holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA)

HighTower Advisors LLC trimmed its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 86.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,199 shares of the company's stock after selling 21,244 shares during the quarter. HighTower Advisors LLC's holdings in Ingles Markets were worth $206,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new position in shares of Ingles Markets during the fourth quarter worth $96,000. Captrust Financial Advisors purchased a new position in Ingles Markets during the 3rd quarter valued at about $206,000. Intech Investment Management LLC acquired a new position in Ingles Markets in the 3rd quarter valued at about $266,000. Exchange Traded Concepts LLC increased its stake in Ingles Markets by 4.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,369 shares of the company's stock worth $282,000 after purchasing an additional 187 shares during the period. Finally, Ballentine Partners LLC lifted its position in shares of Ingles Markets by 7.5% during the fourth quarter. Ballentine Partners LLC now owns 4,523 shares of the company's stock worth $291,000 after purchasing an additional 314 shares in the last quarter. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Ingles Markets Stock Up 0.8 %

Shares of Ingles Markets stock traded up $0.52 during trading hours on Tuesday, reaching $62.74. 173,215 shares of the company were exchanged, compared to its average volume of 114,871. The firm has a market cap of $1.19 billion, a PE ratio of 15.15 and a beta of 0.75. The stock's fifty day moving average is $63.60 and its 200 day moving average is $65.84. Ingles Markets, Incorporated has a 1 year low of $58.92 and a 1 year high of $82.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.45 and a current ratio of 3.24.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.87 EPS for the quarter. Ingles Markets had a return on equity of 5.09% and a net margin of 1.45%.

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.165 per share. The ex-dividend date is Thursday, April 10th. This represents a $0.66 annualized dividend and a dividend yield of 1.05%. Ingles Markets's dividend payout ratio is presently 15.94%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Ingles Markets from a "buy" rating to a "hold" rating in a report on Monday, February 10th.

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.