Los Angeles Capital Management LLC Reduces Holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Los Angeles Capital Management LLC cut its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 14.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,253 shares of the company’s stock after selling 1,400 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Ingles Markets were worth $532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Avidian Wealth Enterprises LLC grew its position in shares of Ingles Markets by 2.1% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 7,443 shares of the company’s stock worth $480,000 after acquiring an additional 150 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Ingles Markets by 4.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,369 shares of the company’s stock worth $282,000 after purchasing an additional 187 shares during the last quarter. Ballentine Partners LLC grew its position in Ingles Markets by 7.5% during the 4th quarter. Ballentine Partners LLC now owns 4,523 shares of the company’s stock worth $291,000 after purchasing an additional 314 shares during the last quarter. Franklin Resources Inc. increased its stake in Ingles Markets by 5.8% in the third quarter. Franklin Resources Inc. now owns 6,933 shares of the company’s stock valued at $517,000 after purchasing an additional 378 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Ingles Markets by 3.1% in the third quarter. Janney Montgomery Scott LLC now owns 18,098 shares of the company’s stock valued at $1,350,000 after buying an additional 542 shares during the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.

Ingles Markets Trading Down 1.4 %

Shares of IMKTA stock opened at $60.61 on Tuesday. The company has a market capitalization of $1.15 billion, a P/E ratio of 14.64 and a beta of 0.75. The company has a current ratio of 3.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $64.60 and its two-hundred day moving average is $67.71. Ingles Markets, Incorporated has a twelve month low of $59.73 and a twelve month high of $82.01.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.87 earnings per share for the quarter. Ingles Markets had a net margin of 1.45% and a return on equity of 5.09%.

Ingles Markets Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.09%. Ingles Markets’s dividend payout ratio (DPR) is 15.94%.

Analyst Ratings Changes

Separately, StockNews.com lowered Ingles Markets from a “buy” rating to a “hold” rating in a report on Monday, February 10th.

About Ingles Markets

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.