Ingles Markets, Incorporated (NASDAQ:IMKTA) Position Reduced by Burney Co.

Burney Co. lessened its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 29.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 116,059 shares of the company’s stock after selling 49,282 shares during the period. Burney Co. owned 0.57% of Ingles Markets, worth $3,905,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in shares of Ingles Markets, by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,805 shares of the company’s stock worth $127,000 after acquiring an additional 572 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Ingles Markets, by 13.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,002 shares of the company’s stock worth $129,000 after acquiring an additional 346 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Ingles Markets, in the second quarter worth $209,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Ingles Markets, in the second quarter worth $211,000. Finally, Sei Investments Co. acquired a new stake in shares of Ingles Markets, in the second quarter worth $225,000. Institutional investors own 58.94% of the company’s stock.

Several research analysts recently commented on IMKTA shares. TheStreet cut Ingles Markets, from a “b” rating to a “c+” rating in a research report on Thursday, June 15th. Zacks Investment Research raised Ingles Markets, from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th.

Ingles Markets, Incorporated (IMKTA) opened at 24.50 on Friday. The company has a market capitalization of $496.35 million, a PE ratio of 10.21 and a beta of 0.66. Ingles Markets, Incorporated has a one year low of $20.75 and a one year high of $52.40. The firm’s 50 day moving average price is $25.24 and its 200-day moving average price is $35.68.

Ingles Markets, (NASDAQ:IMKTA) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.57 earnings per share for the quarter. The company had revenue of $984.40 million during the quarter. Ingles Markets, had a return on equity of 10.08% and a net margin of 1.26%. Equities analysts forecast that Ingles Markets, Incorporated will post $2.75 earnings per share for the current fiscal year.

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Ingles Markets, 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.

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

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