Cynosure Group LLC Has $374,000 Holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Cynosure Group LLC trimmed its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 7.5% in the third quarter, HoldingsChannel.com reports. The firm owned 5,016 shares of the company’s stock after selling 405 shares during the period. Cynosure Group LLC’s holdings in Ingles Markets were worth $374,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Baker Ellis Asset Management LLC increased its position in shares of Ingles Markets by 0.3% during the second quarter. Baker Ellis Asset Management LLC now owns 55,641 shares of the company’s stock worth $3,818,000 after buying an additional 181 shares during the period. CWM LLC raised its holdings in shares of Ingles Markets by 240.9% during the second quarter. CWM LLC now owns 433 shares of the company’s stock valued at $30,000 after purchasing an additional 306 shares during the period. GAMMA Investing LLC boosted its holdings in Ingles Markets by 413.9% in the third quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock worth $30,000 after acquiring an additional 327 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Ingles Markets by 12.1% in the 2nd quarter. Sei Investments Co. now owns 3,844 shares of the company’s stock worth $264,000 after purchasing an additional 416 shares in the last quarter. Finally, Inspire Investing LLC lifted its stake in shares of Ingles Markets by 9.5% in the second quarter. Inspire Investing LLC now owns 5,170 shares of the company’s stock valued at $355,000 after buying an additional 447 shares in the last quarter. 62.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 21st.

Ingles Markets Stock Performance

Shares of IMKTA opened at $73.34 on Friday. The stock has a 50 day moving average of $67.63 and a 200 day moving average of $70.95. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 8.73 and a beta of 0.72. Ingles Markets, Incorporated has a 12 month low of $59.73 and a 12 month high of $89.59. The company has a current ratio of 2.99, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34.

Ingles Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 10th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Thursday, October 10th. Ingles Markets’s dividend payout ratio is presently 7.86%.

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.