Ingles Markets, Incorporated $IMKTA Stock Holdings Lessened by LSV Asset Management

LSV Asset Management cut its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 7.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 113,364 shares of the company’s stock after selling 8,707 shares during the period. LSV Asset Management’s holdings in Ingles Markets were worth $7,886,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of IMKTA. Huntington National Bank boosted its stake in Ingles Markets by 45,500.0% in the second quarter. Huntington National Bank now owns 456 shares of the company’s stock valued at $29,000 after acquiring an additional 455 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Ingles Markets in the 3rd quarter worth approximately $38,000. First Horizon Advisors Inc. boosted its position in Ingles Markets by 192.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 632 shares of the company’s stock valued at $40,000 after purchasing an additional 416 shares during the period. Jones Financial Companies Lllp boosted its position in Ingles Markets by 254.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,131 shares of the company’s stock valued at $78,000 after purchasing an additional 812 shares during the period. Finally, CWM LLC grew its stake in Ingles Markets by 221.6% during the 3rd quarter. CWM LLC now owns 1,177 shares of the company’s stock worth $82,000 after buying an additional 811 shares during the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on IMKTA shares. Wall Street Zen upgraded Ingles Markets from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ingles Markets in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Ingles Markets Trading Up 0.9%

Shares of IMKTA stock opened at $89.34 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.69 and a current ratio of 3.36. Ingles Markets, Incorporated has a 1 year low of $58.92 and a 1 year high of $90.49. The stock has a fifty day moving average of $73.72 and a two-hundred day moving average of $71.48. The firm has a market capitalization of $1.70 billion, a PE ratio of 17.83 and a beta of 0.77.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings results on Thursday, February 5th. The company reported $1.48 EPS for the quarter. Ingles Markets had a return on equity of 5.93% and a net margin of 1.76%.The company had revenue of $1.37 billion for the quarter.

Ingles Markets Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Thursday, January 8th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, January 8th. Ingles Markets’s payout ratio is 13.17%.

Ingles Markets Company 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.