Sapient Capital LLC Acquires Shares of 2,500 Ingles Markets, Incorporated (NASDAQ:IMKTA)

Sapient Capital LLC bought a new position in Ingles Markets, Incorporated (NASDAQ:IMKTA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,500 shares of the company’s stock, valued at approximately $216,000.

Other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ingles Markets by 51.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,540 shares of the company’s stock valued at $191,000 after acquiring an additional 863 shares in the last quarter. Linden Thomas Advisory Services LLC acquired a new stake in shares of Ingles Markets in the 4th quarter worth about $245,000. Caxton Associates LP acquired a new position in Ingles Markets during the 3rd quarter valued at about $224,000. Burney Co. grew its holdings in Ingles Markets by 13.8% in the 3rd quarter. Burney Co. now owns 3,508 shares of the company’s stock worth $264,000 after buying an additional 425 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Ingles Markets by 46.7% during the third quarter. Mackenzie Financial Corp now owns 3,801 shares of the company’s stock valued at $293,000 after purchasing an additional 1,210 shares during the period. Institutional investors and hedge funds own 62.54% of the company’s stock.

Ingles Markets Price Performance

NASDAQ IMKTA opened at $72.17 on Wednesday. Ingles Markets, Incorporated has a 1 year low of $71.70 and a 1 year high of $89.59. The company has a fifty day simple moving average of $74.55 and a 200 day simple moving average of $79.61. The company has a market cap of $1.37 billion, a P/E ratio of 7.42 and a beta of 0.62. The company has a current ratio of 3.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.36.

Ingles Markets (NASDAQ:IMKTA) last posted its earnings results on Thursday, February 8th. The company reported $2.28 EPS for the quarter. Ingles Markets had a return on equity of 12.92% and a net margin of 3.14%. The business had revenue of $1.48 billion during the quarter.

Ingles Markets Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, April 11th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.91%. The ex-dividend date was Wednesday, April 10th. Ingles Markets’s dividend payout ratio is currently 6.79%.

Insider Buying and Selling

In related news, Director Sharp Laura Ingle sold 2,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $76.00, for a total transaction of $152,000.00. Following the transaction, the director now owns 24,700 shares in the company, valued at approximately $1,877,200. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 8,000 shares of company stock worth $607,000 in the last three months. Insiders own 23.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on IMKTA. TheStreet downgraded Ingles Markets from a “b” rating to a “c+” rating in a research report on Monday, February 26th. StockNews.com downgraded shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 9th.

Ingles Markets Profile

Ingles Markets, Incorporated, together with its subsidiaries, operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.