Prudential Financial Inc. lowered its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 267,656 shares of the company’s stock after selling 17,675 shares during the quarter. Prudential Financial Inc. owned about 1.32% of Ingles Markets, worth $8,913,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Teachers Advisors LLC lifted its stake in Ingles Markets, by 11.7% during the 4th quarter. Teachers Advisors LLC now owns 23,828 shares of the company’s stock valued at $1,146,000 after acquiring an additional 2,496 shares in the last quarter. Strs Ohio lifted its stake in Ingles Markets, by 1.8% during the 1st quarter. Strs Ohio now owns 16,800 shares of the company’s stock valued at $724,000 after acquiring an additional 300 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Ingles Markets, by 758.4% during the 1st quarter. Russell Investments Group Ltd. now owns 11,614 shares of the company’s stock valued at $501,000 after acquiring an additional 10,261 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Ingles Markets, by 10.4% during the 1st quarter. Wells Fargo & Company MN now owns 47,396 shares of the company’s stock valued at $2,046,000 after acquiring an additional 4,472 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Ingles Markets, by 5.9% during the 1st quarter. Bank of New York Mellon Corp now owns 127,118 shares of the company’s stock valued at $5,485,000 after acquiring an additional 7,052 shares in the last quarter. 58.94% of the stock is owned by institutional investors and hedge funds.

IMKTA has been the topic of several recent analyst reports. TheStreet cut Ingles Markets, from a “b” rating to a “c+” rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded Ingles Markets, from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th.

COPYRIGHT VIOLATION WARNING: “Prudential Financial Inc. Trims Position in Ingles Markets, Incorporated (IMKTA)” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.thecerbatgem.com/2017/09/14/prudential-financial-inc-trims-position-in-ingles-markets-incorporated-imkta.html.

Ingles Markets, Incorporated (NASDAQ IMKTA) opened at 24.10 on Thursday. The firm’s 50-day moving average price is $25.73 and its 200 day moving average price is $36.02. Ingles Markets, Incorporated has a 52 week low of $20.75 and a 52 week high of $52.40. The company has a market capitalization of $488.24 million, a PE ratio of 10.04 and a beta of 0.66.

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 company had revenue of $984.40 million for the quarter. Equities research analysts expect that Ingles Markets, Incorporated will post $2.75 earnings per share for the current fiscal year.

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.

Institutional Ownership by Quarter for Ingles Markets, (NASDAQ:IMKTA)

Receive News & Stock Ratings for Ingles Markets Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingles Markets Incorporated and related stocks with our FREE daily email newsletter.