Royce & Associates LP Decreases Stock Holdings in Ingles Markets, Incorporated $IMKTA

Royce & Associates LP cut its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 18.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 358,200 shares of the company’s stock after selling 79,600 shares during the quarter. Royce & Associates LP owned 1.89% of Ingles Markets worth $24,916,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of IMKTA. Wealth Enhancement Advisory Services LLC lifted its position in Ingles Markets by 3.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,817 shares of the company’s stock valued at $272,000 after purchasing an additional 144 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Ingles Markets by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,163 shares of the company’s stock valued at $327,000 after buying an additional 209 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Ingles Markets by 7.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,135 shares of the company’s stock valued at $199,000 after acquiring an additional 215 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Ingles Markets by 2.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 9,002 shares of the company’s stock valued at $571,000 after acquiring an additional 257 shares during the last quarter. Finally, Ballast Asset Management LP grew its position in Ingles Markets by 1.0% in the second quarter. Ballast Asset Management LP now owns 31,669 shares of the company’s stock worth $2,007,000 after acquiring an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Ingles Markets Stock Up 0.6%

Shares of IMKTA opened at $85.10 on Monday. The firm has a market capitalization of $1.62 billion, a P/E ratio of 16.99 and a beta of 0.74. Ingles Markets, Incorporated has a 12-month low of $58.92 and a 12-month high of $90.49. The firm has a fifty day moving average price of $76.74 and a 200-day moving average price of $73.20. The company has a current ratio of 3.36, a quick ratio of 1.69 and a debt-to-equity ratio of 0.30.

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

Ingles Markets Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Thursday, January 8th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, January 8th. Ingles Markets’s dividend payout ratio (DPR) is presently 13.17%.

Wall Street Analyst Weigh In

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

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.