Victory Capital Management Inc. Has $2.66 Million Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Victory Capital Management Inc. lowered its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 14.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,848 shares of the company's stock after selling 7,132 shares during the period. Victory Capital Management Inc. owned 0.22% of Ingles Markets worth $2,660,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in Ingles Markets by 0.3% in the fourth quarter. Wells Fargo & Company MN now owns 61,502 shares of the company's stock valued at $3,963,000 after acquiring an additional 184 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Ingles Markets by 6.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,087 shares of the company's stock worth $266,000 after acquiring an additional 232 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in Ingles Markets by 3.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,577 shares of the company's stock worth $424,000 after acquiring an additional 249 shares during the period. Janney Montgomery Scott LLC grew its stake in Ingles Markets by 1.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,729 shares of the company's stock worth $1,155,000 after acquiring an additional 286 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ingles Markets by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,232 shares of the company's stock worth $530,000 after acquiring an additional 313 shares during the period. Institutional investors and hedge funds own 62.54% of the company's stock.

Ingles Markets Stock Performance

NASDAQ IMKTA traded up $0.36 on Friday, hitting $63.29. The stock had a trading volume of 44,467 shares, compared to its average volume of 120,843. Ingles Markets, Incorporated has a one year low of $58.92 and a one year high of $79.13. The company has a quick ratio of 1.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 19.35 and a beta of 0.71. The company's 50-day moving average is $63.63 and its two-hundred day moving average is $63.41.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.80 earnings per share for the quarter. Ingles Markets had a net margin of 1.14% and a return on equity of 3.98%.

Ingles Markets Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Thursday, July 10th were issued a dividend of $0.165 per share. 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 (DPR) is currently 20.25%.

Wall Street Analyst Weigh In

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

Ingles Markets Company 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.