Systematic Financial Management LP Decreases Stock Position in Ingles Markets, Incorporated $IMKTA

Systematic Financial Management LP trimmed its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 3.4% in the first quarter, Holdings Channel.com reports. The firm owned 208,952 shares of the company’s stock after selling 7,262 shares during the period. Systematic Financial Management LP’s holdings in Ingles Markets were worth $18,783,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank lifted its holdings in shares of Ingles Markets by 157.5% in the 4th quarter. Comerica Bank now owns 37,415 shares of the company’s stock valued at $2,565,000 after buying an additional 22,883 shares during the period. Fifth Third Bancorp purchased a new position in shares of Ingles Markets during the 1st quarter valued at approximately $3,078,000. Teacher Retirement System of Texas lifted its stake in shares of Ingles Markets by 17.8% in the 4th quarter. Teacher Retirement System of Texas now owns 92,441 shares of the company’s stock valued at $6,337,000 after purchasing an additional 13,972 shares during the period. Evolve Private Wealth LLC acquired a new stake in Ingles Markets during the first quarter valued at $719,000. Finally, River Road Asset Management LLC increased its holdings in Ingles Markets by 2.3% in the fourth quarter. River Road Asset Management LLC now owns 1,007,275 shares of the company’s stock valued at $69,049,000 after buying an additional 22,979 shares in the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Ingles Markets Trading Down 5.3%

Shares of IMKTA stock opened at $84.88 on Friday. Ingles Markets, Incorporated has a fifty-two week low of $59.27 and a fifty-two week high of $95.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.77 and a current ratio of 3.34. The stock’s fifty day moving average is $89.38 and its two-hundred day moving average is $85.91. The firm has a market capitalization of $1.61 billion, a P/E ratio of 15.46 and a beta of 0.61.

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

Ingles Markets Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 9th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, July 9th. Ingles Markets’s dividend payout ratio is presently 12.02%.

Analysts Set New Price Targets

IMKTA has been the subject of a number of analyst reports. Weiss Ratings downgraded shares of Ingles Markets from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Wall Street Zen downgraded Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Insider Activity

In other news, Director Dwight L. Jacobs purchased 500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average price of $88.07 per share, for a total transaction of $44,035.00. Following the acquisition, the director directly owned 500 shares of the company’s stock, valued at approximately $44,035. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.80% of the stock is owned by company insiders.

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.