Ingles Markets, Incorporated $IMKTA Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP lessened its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 208,952 shares of the company’s stock after selling 7,262 shares during the quarter. Systematic Financial Management LP owned 1.10% of Ingles Markets worth $18,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC purchased a new stake in shares of Ingles Markets in the first quarter valued at approximately $38,000. Highlander Partners L.P. purchased a new position in Ingles Markets in the fourth quarter worth $45,000. Eastern Bank acquired a new stake in Ingles Markets in the fourth quarter valued at $48,000. Torren Management LLC acquired a new stake in Ingles Markets in the fourth quarter valued at $51,000. Finally, Huntington National Bank boosted its position in shares of Ingles Markets by 63.1% during the 4th quarter. Huntington National Bank now owns 778 shares of the company’s stock worth $53,000 after purchasing an additional 301 shares in the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.

Ingles Markets Stock Down 5.3%

IMKTA opened at $84.88 on Friday. The firm has a market cap of $1.61 billion, a P/E ratio of 15.46 and a beta of 0.61. The business’s fifty day simple moving average is $89.38 and its 200 day simple moving average is $85.91. Ingles Markets, Incorporated has a 52 week low of $59.27 and a 52 week high of $95.62. The company has a quick ratio of 1.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.29.

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

Ingles Markets Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Thursday, July 9th were given a $0.165 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.8%. Ingles Markets’s payout ratio is currently 12.02%.

Insider Buying and Selling

In related news, Director Dwight L. Jacobs purchased 500 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $88.07 per share, with a total value of $44,035.00. Following the completion of the purchase, the director directly owned 500 shares in the company, valued at approximately $44,035. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 22.80% of the company’s stock.

Analysts Set New Price Targets

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

Ingles Markets 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.