LSV Asset Management Cuts Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

LSV Asset Management lessened its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 18.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 320,914 shares of the company’s stock after selling 75,005 shares during the quarter. LSV Asset Management’s holdings in Ingles Markets were worth $24,608,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. River Road Asset Management LLC increased its holdings in shares of Ingles Markets by 1.3% in the 4th quarter. River Road Asset Management LLC now owns 832,191 shares of the company’s stock valued at $71,876,000 after purchasing an additional 10,900 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Ingles Markets by 8.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 311,124 shares of the company’s stock valued at $26,872,000 after acquiring an additional 23,854 shares in the last quarter. American Century Companies Inc. increased its holdings in Ingles Markets by 9.5% during the 3rd quarter. American Century Companies Inc. now owns 257,857 shares of the company’s stock valued at $19,424,000 after acquiring an additional 22,400 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in Ingles Markets by 3.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 225,124 shares of the company’s stock valued at $19,444,000 after acquiring an additional 6,528 shares in the last quarter. Finally, Denali Advisors LLC increased its holdings in Ingles Markets by 20.0% during the 1st quarter. Denali Advisors LLC now owns 65,495 shares of the company’s stock valued at $5,022,000 after acquiring an additional 10,919 shares in the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Ingles Markets Price Performance

NASDAQ:IMKTA traded up $0.64 during mid-day trading on Friday, hitting $73.67. 84,125 shares of the company’s stock traded hands, compared to its average volume of 85,160. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 3.20. The firm’s 50 day simple moving average is $71.11 and its 200 day simple moving average is $76.01. Ingles Markets, Incorporated has a 1 year low of $67.10 and a 1 year high of $89.59. The company has a market cap of $1.40 billion, a PE ratio of 7.95 and a beta of 0.66.

Ingles Markets (NASDAQ:IMKTA) last posted its earnings results on Thursday, May 9th. The company reported $1.68 earnings per share for the quarter. Ingles Markets had a net margin of 3.00% and a return on equity of 11.97%. The firm had revenue of $1.37 billion during the quarter.

Ingles Markets Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Thursday, July 11th will be issued a dividend of $0.165 per share. The ex-dividend date is Thursday, July 11th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.90%. Ingles Markets’s dividend payout ratio (DPR) is presently 7.12%.

Insider Transactions at Ingles Markets

In other news, Director Sharp Laura Ingle sold 4,799 shares of Ingles Markets stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $70.38, for a total transaction of $337,753.62. Following the completion of the sale, the director now directly owns 5,901 shares in the company, valued at $415,312.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 16,700 shares of company stock worth $1,160,640 over the last ninety days. 23.10% of the stock is currently owned by corporate insiders.

Ingles Markets Company 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.