Prudential Financial Inc. Lowers Stock Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Prudential Financial Inc. lessened its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,415 shares of the company's stock after selling 6,800 shares during the quarter. Prudential Financial Inc. owned approximately 0.14% of Ingles Markets worth $1,702,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Ingles Markets by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,234,699 shares of the company's stock worth $79,564,000 after purchasing an additional 7,541 shares during the last quarter. River Road Asset Management LLC boosted its holdings in Ingles Markets by 0.6% during the 4th quarter. River Road Asset Management LLC now owns 976,424 shares of the company's stock worth $62,921,000 after acquiring an additional 5,398 shares during the last quarter. Brandes Investment Partners LP raised its stake in shares of Ingles Markets by 42.4% during the 4th quarter. Brandes Investment Partners LP now owns 533,982 shares of the company's stock worth $34,410,000 after purchasing an additional 159,097 shares during the period. American Century Companies Inc. raised its stake 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 purchasing an additional 47,859 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake 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 purchasing an additional 48,000 shares during the period. Institutional investors own 62.54% of the company's stock.

Analyst Ratings Changes

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

Ingles Markets Price Performance

IMKTA stock traded down $0.60 during mid-day trading on Thursday, reaching $63.72. 4,977 shares of the company traded hands, compared to its average volume of 114,815. The company has a market capitalization of $1.21 billion, a P/E ratio of 15.39 and a beta of 0.75. The company has a fifty day moving average price of $63.52 and a 200-day moving average price of $65.77. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.24 and a quick ratio of 1.45. Ingles Markets, Incorporated has a 52-week low of $58.92 and a 52-week high of $82.01.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last announced its quarterly 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 declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 10th will be issued 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 1.04%. Ingles Markets's 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.