Sanctuary Advisors LLC Cuts Holdings in Ingles Markets, Incorporated $IMKTA

Sanctuary Advisors LLC cut its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 51.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,544 shares of the company’s stock after selling 7,999 shares during the quarter. Sanctuary Advisors LLC’s holdings in Ingles Markets were worth $517,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IMKTA. Allianz Asset Management GmbH increased its holdings in Ingles Markets by 24.5% in the third quarter. Allianz Asset Management GmbH now owns 188,964 shares of the company’s stock valued at $13,144,000 after buying an additional 37,194 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Ingles Markets by 42.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 78,469 shares of the company’s stock worth $5,458,000 after acquiring an additional 23,479 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Ingles Markets by 4.5% during the 3rd quarter. American Century Companies Inc. now owns 561,306 shares of the company’s stock worth $39,045,000 after acquiring an additional 24,406 shares in the last quarter. VELA Investment Management LLC grew its holdings in shares of Ingles Markets by 72.7% in the 3rd quarter. VELA Investment Management LLC now owns 25,065 shares of the company’s stock worth $1,744,000 after acquiring an additional 10,549 shares during the period. Finally, Linden Thomas Advisory Services LLC grew its holdings in shares of Ingles Markets by 4.4% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 13,869 shares of the company’s stock worth $965,000 after acquiring an additional 585 shares during the period. Institutional investors and hedge funds own 62.54% of the company’s stock.

Ingles Markets Price Performance

Shares of NASDAQ IMKTA opened at $86.60 on Friday. The company has a current ratio of 3.36, a quick ratio of 1.69 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $88.45 and its 200 day moving average price is $79.60. Ingles Markets, Incorporated has a 52 week low of $59.09 and a 52 week high of $95.62. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 15.77 and a beta of 0.62.

Ingles Markets (NASDAQ:IMKTA) last announced its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 1.93% and a return on equity of 6.45%. The company had revenue of $1.31 billion during the quarter.

Ingles Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Thursday, April 9th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, April 9th. Ingles Markets’s payout ratio is currently 12.02%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Ingles Markets from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Ingles Markets has a consensus 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.