Janus Henderson Group PLC cut its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 18.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 530,466 shares of the company’s stock after selling 118,240 shares during the quarter. Janus Henderson Group PLC’s holdings in Ingles Markets were worth $14,651,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of IMKTA. Municipal Employees Retirement System of Michigan purchased a new stake in Ingles Markets in the 4th quarter worth approximately $1,636,000. BlackRock Inc. raised its position in shares of Ingles Markets by 4.4% in the 4th quarter. BlackRock Inc. now owns 1,103,946 shares of the company’s stock worth $30,050,000 after acquiring an additional 46,530 shares in the last quarter. Millennium Management LLC raised its position in shares of Ingles Markets by 139.8% in the 4th quarter. Millennium Management LLC now owns 63,455 shares of the company’s stock worth $1,727,000 after acquiring an additional 36,990 shares in the last quarter. James Investment Research Inc. bought a new position in shares of Ingles Markets in the 1st quarter worth approximately $559,000. Finally, Bank of America Corp DE raised its position in shares of Ingles Markets by 35.2% in the 4th quarter. Bank of America Corp DE now owns 70,121 shares of the company’s stock worth $1,908,000 after acquiring an additional 18,246 shares in the last quarter. Institutional investors own 62.89% of the company’s stock.
IMKTA has been the subject of several research reports. TheStreet raised Ingles Markets from a “c+” rating to a “b-” rating in a research report on Friday, March 1st. BidaskClub raised Ingles Markets from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 9th. Zacks Investment Research lowered Ingles Markets from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Finally, ValuEngine lowered Ingles Markets from a “sell” rating to a “strong sell” rating in a research report on Friday, March 15th.
In related news, Director Sharp Laura Ingle sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $27.39, for a total transaction of $68,475.00. Following the completion of the transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $684,750. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 29.30% of the stock is owned by company insiders.
IMKTA stock opened at $30.49 on Thursday. Ingles Markets, Incorporated has a twelve month low of $25.57 and a twelve month high of $37.65. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.94 and a quick ratio of 0.46. The company has a market cap of $611.42 million, a P/E ratio of 6.34, a P/E/G ratio of 1.11 and a beta of 0.63.
Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.74 earnings per share for the quarter. Ingles Markets had a return on equity of 12.26% and a net margin of 1.93%. The company had revenue of $1 billion during the quarter. Equities research analysts forecast that Ingles Markets, Incorporated will post 3.4 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, April 11th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Wednesday, April 10th. Ingles Markets’s dividend payout ratio (DPR) is presently 13.72%.
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About Ingles Markets
Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. Its supermarkets offer various food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, such as fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.
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