Los Angeles Capital Management LLC Sells 1,300 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Los Angeles Capital Management LLC lessened its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 10.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,753 shares of the company’s stock after selling 1,300 shares during the period. Los Angeles Capital Management LLC owned 0.06% of Ingles Markets worth $738,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ingles Markets by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 311,124 shares of the company’s stock worth $26,872,000 after acquiring an additional 23,854 shares during the period. Quadrature Capital Ltd bought a new stake in Ingles Markets in the 4th quarter valued at $1,574,000. Allspring Global Investments Holdings LLC boosted its stake in Ingles Markets by 69.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 41,219 shares of the company’s stock valued at $3,161,000 after purchasing an additional 16,877 shares during the period. Boston Partners acquired a new position in Ingles Markets in the 1st quarter valued at $871,000. Finally, Denali Advisors LLC increased its position in Ingles Markets by 20.0% during the 1st quarter. Denali Advisors LLC now owns 65,495 shares of the company’s stock worth $5,022,000 after buying an additional 10,919 shares during the period. Institutional investors and hedge funds own 62.54% of the company’s stock.

Insiders Place Their Bets

In other Ingles Markets news, Director Sharp Laura Ingle sold 5,901 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $68.02, for a total transaction of $401,386.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 23.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

Ingles Markets Stock Performance

Shares of Ingles Markets stock opened at $73.43 on Friday. The company’s 50 day moving average price is $74.03 and its two-hundred day moving average price is $73.35. The firm has a market capitalization of $1.39 billion, a P/E ratio of 7.92 and a beta of 0.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.99 and a quick ratio of 1.49. Ingles Markets, Incorporated has a fifty-two week low of $67.10 and a fifty-two week high of $89.59.

Ingles Markets (NASDAQ:IMKTA) last posted its earnings results on Thursday, August 8th. The company reported $1.67 EPS for the quarter. The firm had revenue of $1.39 billion during the quarter. Ingles Markets had a return on equity of 10.58% and a net margin of 2.74%.

Ingles Markets Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Thursday, July 11th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $0.66 annualized dividend and a yield of 0.90%. Ingles Markets’s payout ratio is 7.12%.

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.