Northern Trust Corp Trims Stake in Ingles Markets, Incorporated $IMKTA

Key Points

• Northern Trust Corp has decreased its stake in Ingles Markets by 4.4%, now owning 178,795 shares valued at approximately $11.6 million.
• Several institutional investors made significant changes to their positions in Ingles Markets, with Janus Henderson Group PLC increasing its holdings by over 1,228% in the fourth quarter.
• Ingles Markets recently declared a quarterly dividend of $0.165 per share, resulting in an annualized yield of 0.9%.

Northern Trust Corp lowered its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 178,795 shares of the company's stock after selling 8,305 shares during the quarter. Northern Trust Corp owned about 0.94% of Ingles Markets worth $11,645,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its position in Ingles Markets by 1,228.1% during the 4th 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 during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Ingles Markets during the 4th quarter worth approximately $5,886,000. Charles Schwab Investment Management Inc. increased its position in Ingles Markets by 9.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 497,217 shares of the company's stock worth $32,384,000 after purchasing an additional 43,659 shares during the period. DC Investments Management LLC acquired a new position in Ingles Markets during the 4th quarter worth approximately $2,792,000. Finally, American Century Companies Inc. increased its position in Ingles Markets by 8.1% during the 1st quarter. American Century Companies Inc. now owns 514,302 shares of the company's stock worth $33,497,000 after purchasing an additional 38,408 shares during the period. Hedge funds and other institutional investors own 62.54% of the company's stock.

Ingles Markets Stock Performance

NASDAQ IMKTA traded down $1.02 on Wednesday, hitting $67.95. 100,073 shares of the company's stock were exchanged, compared to its average volume of 109,340. 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 firm's 50-day moving average price is $65.96 and its two-hundred day moving average price is $63.58. Ingles Markets, Incorporated has a fifty-two week low of $58.92 and a fifty-two week high of $75.63. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 22.88 and a beta of 0.77.

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

Ingles Markets Announces Dividend

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

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.