Invesco Ltd. Decreases Stock Position in Ingles Markets, Incorporated $IMKTA

Key Points

• Invesco Ltd. significantly reduced its stake in Ingles Markets by 51.2% in the first quarter, now owning approximately 0.23% of the company worth about $2.9 million.
• Ingles Markets reported a quarterly dividend of $0.165 per share, resulting in an annualized yield of 1.0%.
• Wall Street Analysts upgraded Ingles Markets from a "hold" to a "buy" rating, indicating positive growth expectations for the company.

Invesco Ltd. lessened its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 51.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,573 shares of the company's stock after selling 46,693 shares during the period. Invesco Ltd. owned approximately 0.23% of Ingles Markets worth $2,903,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Ingles Markets by 1.9% during the first quarter. Vanguard Group Inc. now owns 1,257,669 shares of the company's stock worth $81,912,000 after acquiring an additional 22,970 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Ingles Markets by 9.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 497,217 shares of the company's stock worth $32,384,000 after acquiring an additional 43,659 shares in the last quarter. Royce & Associates LP raised its stake in Ingles Markets by 0.7% during 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 in the last quarter. Systematic Financial Management LP raised its holdings in shares of Ingles Markets by 2.5% in the 4th quarter. Systematic Financial Management LP now owns 201,529 shares of the company's stock worth $12,987,000 after purchasing an additional 4,858 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Ingles Markets by 1,228.1% in the fourth quarter. Janus Henderson Group PLC now owns 194,756 shares of the company's stock worth $12,550,000 after purchasing an additional 180,092 shares in the last quarter. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Ingles Markets Stock Performance

NASDAQ IMKTA traded down $0.04 during midday trading on Wednesday, hitting $69.05. The company had a trading volume of 61,295 shares, compared to its average volume of 121,982. The company has a quick ratio of 1.53, a current ratio of 3.14 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $65.29 and a two-hundred day simple moving average of $63.37. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 23.25 and a beta of 0.77. Ingles Markets, Incorporated has a fifty-two week low of $58.92 and a fifty-two week high of $75.63.

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

Ingles Markets Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Ingles Markets from a "hold" rating to a "buy" rating in a report on Tuesday, May 6th.

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.