Prudential Financial Inc. Sells 9,034 Shares of Ingles Markets, Incorporated $IMKTA

Prudential Financial Inc. decreased its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 34.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 17,401 shares of the company’s stock after selling 9,034 shares during the period. Prudential Financial Inc. owned approximately 0.09% of Ingles Markets worth $1,103,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in IMKTA. Vanguard Group Inc. boosted its position in shares of Ingles Markets by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 1,257,669 shares of the company’s stock worth $81,912,000 after purchasing an additional 22,970 shares during the last quarter. American Century Companies Inc. increased its holdings in Ingles Markets by 4.4% in the second quarter. American Century Companies Inc. now owns 536,900 shares of the company’s stock valued at $34,029,000 after purchasing an additional 22,598 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Ingles Markets by 9.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 497,217 shares of the company’s stock valued at $32,384,000 after buying an additional 43,659 shares during the period. Geode Capital Management LLC boosted its holdings in Ingles Markets by 3.5% during the second quarter. Geode Capital Management LLC now owns 427,194 shares of the company’s stock worth $27,077,000 after buying an additional 14,424 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Ingles Markets by 2.7% during the second quarter. Allianz Asset Management GmbH now owns 151,770 shares of the company’s stock worth $9,619,000 after buying an additional 3,993 shares during the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.

Ingles Markets Stock Down 2.5%

NASDAQ:IMKTA opened at $74.25 on Monday. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 16.88 and a beta of 0.76. The company has a current ratio of 3.22, a quick ratio of 1.63 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $73.17 and a two-hundred day moving average price of $67.90. Ingles Markets, Incorporated has a 1 year low of $58.92 and a 1 year high of $78.59.

Ingles Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Thursday, October 9th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, October 9th. Ingles Markets’s dividend payout ratio is presently 15.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingles Markets in a research note on Monday, December 1st. Wall Street Zen upgraded shares of Ingles Markets from a “hold” rating to a “buy” rating in a report on Saturday, November 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

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.