UBS Group AG Sells 35,207 Shares of Ingles Markets, Incorporated $IMKTA

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Ingles Markets by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 1,300,136 shares of the company’s stock worth $89,124,000 after purchasing an additional 20,189 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Ingles Markets by 17.8% in the fourth quarter. Teacher Retirement System of Texas now owns 92,441 shares of the company’s stock worth $6,337,000 after purchasing an additional 13,972 shares during the last quarter. Financial Consulate Inc. purchased a new stake in Ingles Markets in the fourth quarter worth approximately $55,000. Baker Ellis Asset Management LLC boosted its holdings in Ingles Markets by 4.8% in the fourth quarter. Baker Ellis Asset Management LLC now owns 23,303 shares of the company’s stock worth $1,597,000 after purchasing an additional 1,065 shares during the last quarter. Finally, DMC Group LLC boosted its holdings in Ingles Markets by 35.7% in the fourth quarter. DMC Group LLC now owns 6,925 shares of the company’s stock worth $475,000 after purchasing an additional 1,820 shares during the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Ingles Markets Stock Up 1.2%

IMKTA opened at $88.42 on Friday. The company has a current ratio of 3.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.29. Ingles Markets, Incorporated has a 1-year low of $59.09 and a 1-year high of $95.62. The company has a market capitalization of $1.68 billion, a PE ratio of 16.11 and a beta of 0.62. The firm’s 50 day simple moving average is $88.67 and its two-hundred day simple moving average is $80.68.

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

Ingles Markets Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Thursday, April 9th were given a $0.165 dividend. The ex-dividend date was Thursday, April 9th. This represents a $0.66 annualized dividend and a yield of 0.7%. Ingles Markets’s dividend payout ratio (DPR) is presently 12.02%.

Insiders Place Their Bets

In other Ingles Markets news, Director Dwight L. Jacobs purchased 500 shares of the firm’s stock in a transaction on 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 transaction, the director owned 500 shares of the company’s stock, valued at approximately $44,035. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 22.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IMKTA. 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 equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company 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.