Ingles Markets, Incorporated (NASDAQ:IMKTA) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,689 shares of the company’s stock after selling 5,263 shares during the period. Bank of America Corp DE owned about 0.51% of Ingles Markets, worth $4,474,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Adams Diversified Equity Fund Inc. increased its stake in Ingles Markets, by 2.9% in the first quarter. Adams Diversified Equity Fund Inc. now owns 21,100 shares of the company’s stock worth $910,000 after buying an additional 600 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in Ingles Markets, during the fourth quarter worth approximately $527,000. Teachers Advisors LLC increased its stake in Ingles Markets, by 11.7% in the fourth quarter. Teachers Advisors LLC now owns 23,828 shares of the company’s stock worth $1,146,000 after buying an additional 2,496 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Ingles Markets, by 4.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,854 shares of the company’s stock valued at $468,000 after buying an additional 500 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Ingles Markets, by 5.9% in the first quarter. Bank of New York Mellon Corp now owns 127,118 shares of the company’s stock valued at $5,485,000 after buying an additional 7,052 shares in the last quarter. Institutional investors own 58.88% of the company’s stock.

Ingles Markets, Incorporated (NASDAQ IMKTA) traded down 1.53% during midday trading on Wednesday, hitting $29.05. The company had a trading volume of 3,436 shares. The stock has a 50 day moving average of $31.60 and a 200 day moving average of $40.52. The firm has a market cap of $588.52 million, a price-to-earnings ratio of 11.81 and a beta of 0.60. Ingles Markets, Incorporated has a 52-week low of $28.42 and a 52-week high of $52.40.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Thursday, July 6th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, July 3rd. Ingles Markets,’s dividend payout ratio (DPR) is currently 26.83%.

Several equities research analysts recently issued reports on IMKTA shares. Zacks Investment Research downgraded Ingles Markets, from a “hold” rating to a “sell” rating in a report on Friday, May 5th. TheStreet downgraded Ingles Markets, from a “b” rating to a “c+” rating in a report on Thursday, June 15th.

Ingles Markets, Company Profile

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.