Ingles Markets, Incorporated $IMKTA Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC reduced its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 51.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased its position in Ingles Markets by 3.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,817 shares of the company’s stock worth $272,000 after purchasing an additional 144 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Ingles Markets by 14.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,561 shares of the company’s stock valued at $109,000 after purchasing an additional 197 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Ingles Markets by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,163 shares of the company’s stock valued at $327,000 after purchasing an additional 209 shares in the last quarter. Legal & General Group Plc lifted its holdings in Ingles Markets by 1.5% in the 3rd quarter. Legal & General Group Plc now owns 16,096 shares of the company’s stock valued at $1,120,000 after purchasing an additional 234 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Ingles Markets by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,617 shares of the company’s stock worth $561,000 after buying an additional 385 shares in the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Ingles Markets from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Ingles Markets Stock Up 1.0%

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 firm has a market cap of $1.64 billion, a price-to-earnings ratio of 15.77 and a beta of 0.62. The stock’s 50-day moving average price is $88.45 and its two-hundred day moving average price is $79.60. Ingles Markets, Incorporated has a 12-month low of $59.09 and a 12-month high of $95.62.

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

Ingles Markets Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $0.66 annualized dividend and a yield of 0.8%. Ingles Markets’s dividend payout ratio is 12.02%.

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.