Bank of New York Mellon Corp Has $4.30 Million Stake in Ingles Markets, Incorporated (IMKTA)
Bank of New York Mellon Corp lifted its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,092 shares of the company’s stock after purchasing an additional 1,974 shares during the period. Bank of New York Mellon Corp owned 0.64% of Ingles Markets, worth $4,299,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of IMKTA. Renaissance Technologies LLC increased its stake in Ingles Markets, by 182.7% in the 1st quarter. Renaissance Technologies LLC now owns 34,774 shares of the company’s stock worth $1,500,000 after buying an additional 22,474 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Ingles Markets, by 9.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 140,945 shares of the company’s stock worth $6,082,000 after buying an additional 12,221 shares in the last quarter. Oxford Asset Management purchased a new stake in Ingles Markets, in the 1st quarter worth $448,000. Russell Investments Group Ltd. increased its stake in Ingles Markets, by 758.4% in the 1st quarter. Russell Investments Group Ltd. now owns 11,614 shares of the company’s stock worth $501,000 after buying an additional 10,261 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Ingles Markets, by 9.0% in the 1st quarter. Ameriprise Financial Inc. now owns 113,885 shares of the company’s stock worth $4,915,000 after buying an additional 9,447 shares in the last quarter. Hedge funds and other institutional investors own 58.94% of the company’s stock.
Several research analysts have commented on IMKTA shares. Zacks Investment Research raised shares of Ingles Markets, from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. TheStreet downgraded shares of Ingles Markets, from a “b” rating to a “c+” rating in a report on Thursday, June 15th.
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In related news, Director Sharp Laura Ingle sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $24.97, for a total transaction of $124,850.00. Following the completion of the sale, the director now owns 2,500 shares of the company’s stock, valued at approximately $62,425. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 30.30% of the stock is owned by insiders.
Ingles Markets, Incorporated (NASDAQ IMKTA) opened at 26.50 on Friday. The firm’s 50 day moving average is $24.21 and its 200 day moving average is $33.61. Ingles Markets, Incorporated has a 12-month low of $20.75 and a 12-month high of $52.40. The company has a market cap of $536.86 million, a P/E ratio of 11.04 and a beta of 0.69.
Ingles Markets, (NASDAQ:IMKTA) last released its earnings results on Wednesday, August 2nd. The company reported $0.57 EPS for the quarter. The business had revenue of $984.40 million during the quarter. Ingles Markets, had a net margin of 1.26% and a return on equity of 10.08%. Equities research analysts anticipate that Ingles Markets, Incorporated will post $2.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Thursday, October 12th will be paid a dividend of $0.165 per share. The ex-dividend date is Wednesday, October 11th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.49%. Ingles Markets,’s dividend payout ratio is currently 27.50%.
About Ingles Markets,
Ingles Markets, Incorporated (Ingles) is a supermarket chain in the southeast United States. The Company’s segments include retail grocery and other. Its other segment consists of fluid dairy operations and shopping center rentals. As of September 24, 2016, the Company operated 201 supermarkets in Georgia, North Carolina, South Carolina, Tennessee, Virginia and Alabama.
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