TIAA CREF Investment Management LLC Sells 2,839 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)
TIAA CREF Investment Management LLC cut its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,508 shares of the company’s stock after selling 2,839 shares during the period. TIAA CREF Investment Management LLC’s holdings in Ingles Markets, were worth $1,618,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. River Road Asset Management LLC raised its position in shares of Ingles Markets, by 10.1% in the first quarter. River Road Asset Management LLC now owns 1,125,418 shares of the company’s stock valued at $48,562,000 after buying an additional 103,181 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Ingles Markets, during the fourth quarter valued at $592,000. Highbridge Capital Management LLC purchased a new stake in Ingles Markets, during the fourth quarter valued at $527,000. Oxford Asset Management purchased a new stake in Ingles Markets, during the first quarter valued at $448,000. Finally, Russell Investments Group Ltd. increased its stake in Ingles Markets, by 758.4% in the first quarter. Russell Investments Group Ltd. now owns 11,614 shares of the company’s stock valued at $501,000 after buying an additional 10,261 shares during the last quarter. Institutional investors own 58.97% of the company’s stock.
Ingles Markets, Incorporated (NASDAQ IMKTA) traded up 1.70% during midday trading on Friday, hitting $26.90. The stock had a trading volume of 9,100 shares. Ingles Markets, Incorporated has a 12-month low of $26.15 and a 12-month high of $52.40. The company has a 50-day moving average price of $30.37 and a 200-day moving average price of $39.71. The company has a market cap of $544.97 million, a price-to-earnings ratio of 11.21 and a beta of 0.60.
Ingles Markets, (NASDAQ:IMKTA) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.57 earnings per share for the quarter. Ingles Markets, had a return on equity of 10.08% and a net margin of 1.26%. The business had revenue of $984.40 million during the quarter. Equities analysts anticipate that Ingles Markets, Incorporated will post $2.75 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 13th. Stockholders of record on Thursday, July 6th were issued a $0.165 dividend. The ex-dividend date was Monday, July 3rd. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.50%. Ingles Markets,’s dividend payout ratio (DPR) is 27.50%.
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Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Ingles Markets, from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. TheStreet downgraded Ingles Markets, from a “b” rating to a “c+” rating in a report on Thursday, June 15th.
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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