Goldman Sachs Group Inc. Lowers Stock Position in Ingles Markets, Incorporated $IMKTA

Key Points

• Goldman Sachs Group Inc. reduced its stake in Ingles Markets by 29.4% in Q1, holding 112,092 shares worth approximately $7.3 million.
• Several other hedge funds have increased their investments in Ingles Markets, with Summer Road LLC raising its holdings by 125% during the same quarter.
• Ingles Markets recently declared a quarterly dividend of $0.165 per share, providing a dividend yield of 1.0% for the year.

Goldman Sachs Group Inc. lessened its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 29.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,092 shares of the company's stock after selling 46,735 shares during the period. Goldman Sachs Group Inc. owned approximately 0.59% of Ingles Markets worth $7,301,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Ingles Markets by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 1,257,669 shares of the company's stock worth $81,912,000 after purchasing an additional 22,970 shares in the last quarter. American Century Companies Inc. increased its position in Ingles Markets by 8.1% in the 1st quarter. American Century Companies Inc. now owns 514,302 shares of the company's stock valued at $33,497,000 after acquiring an additional 38,408 shares during the period. Charles Schwab Investment Management Inc. increased its position in Ingles Markets by 9.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 497,217 shares of the company's stock valued at $32,384,000 after acquiring an additional 43,659 shares during the period. Royce & Associates LP increased its position in Ingles Markets by 0.7% in the 1st quarter. Royce & Associates LP now owns 409,700 shares of the company's stock valued at $26,684,000 after acquiring an additional 2,700 shares during the period. Finally, Systematic Financial Management LP increased its position in Ingles Markets by 2.5% in the 4th quarter. Systematic Financial Management LP now owns 201,529 shares of the company's stock valued at $12,987,000 after acquiring an additional 4,858 shares during the period. Institutional investors own 62.54% of the company's stock.

Ingles Markets Trading Down 2.3%

Shares of IMKTA traded down $1.61 during trading hours on Friday, hitting $69.01. 35,490 shares of the stock were exchanged, compared to its average volume of 120,458. Ingles Markets, Incorporated has a fifty-two week low of $58.92 and a fifty-two week high of $75.63. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.14 and a quick ratio of 1.53. The business has a 50-day moving average of $66.37 and a 200-day moving average of $63.87. The firm has a market capitalization of $1.31 billion, a P/E ratio of 23.24 and a beta of 0.77.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $1.38 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 1.05% and a return on equity of 3.60%.

Ingles Markets Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, July 10th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 10th. Ingles Markets's dividend payout ratio (DPR) is 22.22%.

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.