HighTower Advisors LLC Sells 1,263 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

HighTower Advisors LLC lowered its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 4.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 24,443 shares of the company’s stock after selling 1,263 shares during the period. HighTower Advisors LLC owned approximately 0.13% of Ingles Markets worth $1,823,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. CWM LLC boosted its stake in Ingles Markets by 240.9% during the second quarter. CWM LLC now owns 433 shares of the company’s stock worth $30,000 after buying an additional 306 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Ingles Markets by 413.9% during the 3rd quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock valued at $30,000 after acquiring an additional 327 shares in the last quarter. Signaturefd LLC increased its stake in Ingles Markets by 101.0% in the second quarter. Signaturefd LLC now owns 1,003 shares of the company’s stock valued at $69,000 after acquiring an additional 504 shares during the period. Canada Pension Plan Investment Board acquired a new position in Ingles Markets in the second quarter worth about $69,000. Finally, Innealta Capital LLC bought a new position in Ingles Markets during the second quarter worth about $74,000. Institutional investors own 62.54% of the company’s stock.

Ingles Markets Stock Down 1.7 %

Shares of NASDAQ:IMKTA opened at $69.20 on Friday. The company’s fifty day moving average is $67.80 and its 200-day moving average is $70.71. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 2.99. Ingles Markets, Incorporated has a 52 week low of $59.73 and a 52 week high of $89.59. The company has a market capitalization of $1.31 billion, a PE ratio of 8.24 and a beta of 0.74.

Ingles Markets Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 10th were given a $0.165 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.66 dividend on an annualized basis and a yield of 0.95%. Ingles Markets’s dividend payout ratio (DPR) is presently 7.86%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 21st.

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.