Ingles Markets, Incorporated $IMKTA Stock Position Decreased by Royce & Associates LP

Royce & Associates LP cut its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 16.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 299,000 shares of the company’s stock after selling 59,200 shares during the quarter. Royce & Associates LP owned 1.57% of Ingles Markets worth $20,496,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Ingles Markets by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 1,300,136 shares of the company’s stock worth $89,124,000 after acquiring an additional 20,189 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. Allianz Asset Management GmbH boosted its stake in shares of Ingles Markets by 24.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 188,964 shares of the company’s stock worth $13,144,000 after acquiring an additional 37,194 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Ingles Markets by 23.2% during the 3rd quarter. Two Sigma Investments LP now owns 145,510 shares of the company’s stock worth $10,122,000 after acquiring an additional 27,403 shares in the last quarter. Finally, Denali Advisors LLC boosted its stake in shares of Ingles Markets by 1.7% during the 3rd quarter. Denali Advisors LLC now owns 102,839 shares of the company’s stock worth $7,153,000 after acquiring an additional 1,750 shares in the last quarter. 62.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wall Street Zen lowered Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings raised Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Ingles Markets Stock Performance

Shares of Ingles Markets stock opened at $87.44 on Wednesday. The stock has a market cap of $1.66 billion, a PE ratio of 15.93 and a beta of 0.62. The business has a fifty day simple moving average of $88.69 and a 200-day simple moving average of $80.96. The company has a quick ratio of 1.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.29. Ingles Markets, Incorporated has a 12 month low of $59.27 and a 12 month high of $95.62.

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

Ingles Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, April 9th. Ingles Markets’s dividend payout ratio (DPR) is 12.02%.

Insider Activity at Ingles Markets

In other Ingles Markets news, Director Dwight L. Jacobs bought 500 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average price of $88.07 per share, with a total value of $44,035.00. Following the completion of the transaction, the director directly owned 500 shares in the company, valued at approximately $44,035. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.80% of the stock is currently owned by company insiders.

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.