Ingles Markets, Incorporated $IMKTA Shares Sold by LSV Asset Management

LSV Asset Management lessened its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 113,364 shares of the company’s stock after selling 8,707 shares during the quarter. LSV Asset Management owned about 0.60% of Ingles Markets worth $7,886,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Ingles Markets by 15.4% during the first quarter. Royal Bank of Canada now owns 19,083 shares of the company’s stock worth $1,243,000 after purchasing an additional 2,544 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ingles Markets by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,617 shares of the company’s stock worth $561,000 after buying an additional 385 shares during the period. Jane Street Group LLC increased its stake in Ingles Markets by 275.9% during the 1st quarter. Jane Street Group LLC now owns 30,644 shares of the company’s stock worth $1,996,000 after buying an additional 22,492 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Ingles Markets by 122.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 72,964 shares of the company’s stock worth $4,819,000 after buying an additional 40,164 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Ingles Markets by 2.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 151,770 shares of the company’s stock valued at $9,619,000 after buying an additional 3,993 shares during the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.

Ingles Markets Price Performance

IMKTA opened at $89.34 on Monday. The company has a market capitalization of $1.70 billion, a P/E ratio of 17.83 and a beta of 0.77. The company has a 50-day moving average of $73.72 and a 200-day moving average of $71.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.69 and a current ratio of 3.36. Ingles Markets, Incorporated has a 1-year low of $58.92 and a 1-year high of $90.49.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings results on Thursday, February 5th. The company reported $1.48 EPS for the quarter. Ingles Markets had a return on equity of 5.93% and a net margin of 1.76%.The business had revenue of $1.37 billion during the quarter.

Ingles Markets Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Thursday, January 8th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, January 8th. Ingles Markets’s payout ratio is 13.17%.

Wall Street Analyst Weigh In

IMKTA has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Ingles Markets in a research note on Monday, December 29th. Wall Street Zen raised Ingles Markets from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Ingles Markets Profile

Ingles Markets, Inc (NASDAQ: IMKTA) is a family‐owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.

In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.