Sapient Capital LLC Acquires Shares of 2,500 Ingles Markets, Incorporated (NASDAQ:IMKTA)

Sapient Capital LLC bought a new stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,500 shares of the company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ingles Markets by 51.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,540 shares of the company’s stock worth $191,000 after acquiring an additional 863 shares in the last quarter. Linden Thomas Advisory Services LLC purchased a new stake in shares of Ingles Markets in the 4th quarter worth approximately $245,000. Caxton Associates LP bought a new position in Ingles Markets during the 3rd quarter valued at approximately $224,000. Burney Co. raised its stake in Ingles Markets by 13.8% during the third quarter. Burney Co. now owns 3,508 shares of the company’s stock valued at $264,000 after buying an additional 425 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Ingles Markets by 46.7% in the third quarter. Mackenzie Financial Corp now owns 3,801 shares of the company’s stock worth $293,000 after acquiring an additional 1,210 shares in the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Insider Activity

In other Ingles Markets news, Director Sharp Laura Ingle sold 2,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $76.00, for a total transaction of $152,000.00. Following the sale, the director now owns 24,700 shares of the company’s stock, valued at approximately $1,877,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 8,000 shares of company stock worth $607,000. 23.10% of the stock is currently owned by corporate insiders.

Ingles Markets Price Performance

Shares of IMKTA opened at $72.17 on Wednesday. Ingles Markets, Incorporated has a 12-month low of $71.70 and a 12-month high of $89.59. The business’s 50 day moving average is $74.55 and its 200 day moving average is $79.61. The company has a current ratio of 3.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.37 billion, a PE ratio of 7.42 and a beta of 0.62.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings results on Thursday, February 8th. The company reported $2.28 earnings per share for the quarter. Ingles Markets had a net margin of 3.14% and a return on equity of 12.92%. The company had revenue of $1.48 billion for the quarter.

Ingles Markets Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Thursday, April 11th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.91%. The ex-dividend date was Wednesday, April 10th. Ingles Markets’s payout ratio is 6.79%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IMKTA. TheStreet cut Ingles Markets from a “b” rating to a “c+” rating in a research report on Monday, February 26th. StockNews.com downgraded shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 9th.

About Ingles Markets

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.