Ingles Markets, Incorporated $IMKTA Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 1.1% in the third quarter, HoldingsChannel.com reports. The firm owned 1,279,947 shares of the company’s stock after selling 14,816 shares during the period. Vanguard Group Inc. owned 0.07% of Ingles Markets worth $89,033,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Huntington National Bank lifted its stake in Ingles Markets by 45,500.0% during the second quarter. Huntington National Bank now owns 456 shares of the company’s stock worth $29,000 after purchasing an additional 455 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Ingles Markets in the 3rd quarter valued at $38,000. First Horizon Advisors Inc. lifted its stake in Ingles Markets by 192.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 632 shares of the company’s stock worth $40,000 after acquiring an additional 416 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Ingles Markets by 254.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,131 shares of the company’s stock valued at $78,000 after acquiring an additional 812 shares during the period. Finally, CWM LLC grew its position in Ingles Markets by 221.6% in the 3rd quarter. CWM LLC now owns 1,177 shares of the company’s stock valued at $82,000 after acquiring an additional 811 shares in the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Ingles Markets Trading Down 2.4%

IMKTA opened at $83.82 on Friday. The business has a fifty day moving average price of $77.91 and a 200 day moving average price of $73.68. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.36 and a quick ratio of 1.69. Ingles Markets, Incorporated has a 12 month low of $59.09 and a 12 month high of $90.49. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 16.73 and a beta of 0.74.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings data on Thursday, February 5th. The company reported $1.48 earnings per share (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. Investors of record on Thursday, January 8th were paid a $0.165 dividend. The ex-dividend date was Thursday, January 8th. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. Ingles Markets’s payout ratio is currently 13.17%.

Wall Street Analyst Weigh In

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