LSV Asset Management Sells 5,800 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

LSV Asset Management cut its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 231,583 shares of the company's stock after selling 5,800 shares during the period. LSV Asset Management owned approximately 1.22% of Ingles Markets worth $15,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. LPL Financial LLC increased its position in Ingles Markets by 48.6% in the 4th quarter. LPL Financial LLC now owns 9,502 shares of the company's stock valued at $612,000 after buying an additional 3,108 shares in the last quarter. Vanguard Group Inc. increased its position in Ingles Markets by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,234,699 shares of the company's stock valued at $79,564,000 after buying an additional 7,541 shares in the last quarter. JPMorgan Chase & Co. increased its position in Ingles Markets by 22.3% in the 4th quarter. JPMorgan Chase & Co. now owns 66,865 shares of the company's stock valued at $4,309,000 after buying an additional 12,213 shares in the last quarter. Franklin Resources Inc. increased its position in Ingles Markets by 6.3% in the 4th quarter. Franklin Resources Inc. now owns 7,369 shares of the company's stock valued at $475,000 after buying an additional 436 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Ingles Markets by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 411,436 shares of the company's stock valued at $26,518,000 after buying an additional 12,246 shares in the last quarter. 62.54% of the stock is owned by institutional investors.

Ingles Markets Stock Performance

Shares of Ingles Markets stock opened at $62.56 on Tuesday. Ingles Markets, Incorporated has a one year low of $58.92 and a one year high of $77.50. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 19.19 and a beta of 0.74. The business has a 50-day simple moving average of $63.70 and a 200 day simple moving average of $63.40. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.19 and a quick ratio of 1.46.

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

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 1.1%. The ex-dividend date of this dividend was Thursday, July 10th. Ingles Markets's payout ratio is currently 20.25%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Ingles Markets from a "hold" rating to a "buy" rating in a research 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.