Bank of New York Mellon Corp Cuts Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Bank of New York Mellon Corp lowered its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,218 shares of the company's stock after selling 12,716 shares during the quarter. Bank of New York Mellon Corp owned 0.49% of Ingles Markets worth $6,007,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of IMKTA. Charles Schwab Investment Management Inc. boosted its position in shares of Ingles Markets by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,558 shares of the company's stock worth $30,255,000 after acquiring an additional 31,027 shares in the last quarter. Factorial Partners LLC purchased a new position in Ingles Markets in the third quarter valued at approximately $1,895,000. Barclays PLC raised its holdings in Ingles Markets by 346.2% during the third quarter. Barclays PLC now owns 23,689 shares of the company's stock worth $1,768,000 after purchasing an additional 18,380 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Ingles Markets by 49.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 54,652 shares of the company's stock worth $4,077,000 after buying an additional 18,141 shares during the last quarter. Finally, Systematic Financial Management LP boosted its holdings in shares of Ingles Markets by 8.3% in the 3rd quarter. Systematic Financial Management LP now owns 196,671 shares of the company's stock valued at $14,672,000 after buying an additional 15,107 shares in the last quarter. 62.54% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

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

Ingles Markets Stock Performance

Shares of NASDAQ IMKTA traded up $0.11 during trading hours on Thursday, reaching $63.00. The stock had a trading volume of 33,726 shares, compared to its average volume of 106,456. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 15.22 and a beta of 0.71. Ingles Markets, Incorporated has a fifty-two week low of $58.92 and a fifty-two week high of $82.01. The firm has a 50-day moving average of $63.99 and a 200-day moving average of $66.86. 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 announced its earnings results on Thursday, February 6th. The company reported $0.87 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.05%. The ex-dividend date was Friday, January 10th. Ingles Markets's dividend payout ratio is presently 15.94%.

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.