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

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

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Ingles Markets by 3.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,817 shares of the company’s stock worth $272,000 after acquiring an additional 144 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Ingles Markets by 14.4% during the third quarter. Parallel Advisors LLC now owns 1,561 shares of the company’s stock worth $109,000 after acquiring an additional 197 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Ingles Markets by 4.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,809 shares of the company’s stock worth $330,000 after acquiring an additional 207 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Ingles Markets by 4.2% during the second quarter. The Manufacturers Life Insurance Company now owns 5,163 shares of the company’s stock worth $327,000 after acquiring an additional 209 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Ingles Markets by 4.0% during the fourth quarter. Ballentine Partners LLC now owns 5,643 shares of the company’s stock worth $387,000 after acquiring an additional 217 shares in the last quarter. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Ingles Markets Price Performance

NASDAQ IMKTA opened at $87.44 on Wednesday. Ingles Markets, Incorporated has a fifty-two week low of $59.27 and a fifty-two week high of $95.62. The stock’s 50-day moving average is $88.69 and its two-hundred day moving average is $80.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.34 and a quick ratio of 1.77. The firm has a market cap of $1.66 billion, a P/E ratio of 15.93 and a beta of 0.62.

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

Ingles Markets Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen lowered Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings upgraded Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Insider Activity at Ingles Markets

In other Ingles Markets news, Director Dwight L. Jacobs acquired 500 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $88.07 per share, for a total transaction of $44,035.00. Following the completion of the purchase, the director owned 500 shares of the company’s stock, valued at approximately $44,035. This trade represents a ? increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 22.80% of the company’s stock.

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.