UBS Group AG Trims Stake in Ingles Markets, Incorporated $IMKTA

UBS Group AG lowered its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 34.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,126 shares of the company’s stock after selling 35,207 shares during the quarter. UBS Group AG owned about 0.35% of Ingles Markets worth $4,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Ingles Markets by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 1,300,136 shares of the company’s stock valued at $89,124,000 after buying an additional 20,189 shares during the period. American Century Companies Inc. grew its holdings in Ingles Markets by 4.5% in the third quarter. American Century Companies Inc. now owns 561,306 shares of the company’s stock worth $39,045,000 after purchasing an additional 24,406 shares during the period. Allianz Asset Management GmbH grew 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 worth $13,144,000 after purchasing an additional 37,194 shares during the period. Two Sigma Investments LP grew its holdings in Ingles Markets by 23.2% in the third quarter. Two Sigma Investments LP now owns 145,510 shares of the company’s stock worth $10,122,000 after purchasing an additional 27,403 shares during the period. Finally, Denali Advisors LLC grew its holdings in Ingles Markets by 1.7% in the third quarter. Denali Advisors LLC now owns 102,839 shares of the company’s stock worth $7,153,000 after purchasing an additional 1,750 shares during the period. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Insider Activity at Ingles Markets

In other news, Director Dwight L. Jacobs purchased 500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $88.07 per share, for a total transaction of $44,035.00. Following the completion of the acquisition, the director directly owned 500 shares in the company, valued at $44,035. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 22.80% of the stock is currently owned by insiders.

Ingles Markets Trading Up 1.2%

NASDAQ:IMKTA opened at $88.42 on Friday. The company’s 50 day moving average price is $88.67 and its 200-day moving average price is $80.68. Ingles Markets, Incorporated has a 52 week low of $59.09 and a 52 week high of $95.62. The company has a quick ratio of 1.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.29. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 16.11 and a beta of 0.62.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter. Ingles Markets had a net margin of 1.93% and a return on equity of 6.41%. The firm had revenue of $1.31 billion for the quarter.

Ingles Markets Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th were issued a dividend of $0.165 per share. The ex-dividend date was Thursday, April 9th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. Ingles Markets’s dividend payout ratio is presently 12.02%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wall Street Zen cut shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings upgraded shares of Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

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.