Ingles Markets, Incorporated (NASDAQ:IMKTA) Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in Ingles Markets by 2.4%, now holding 231,583 shares valued at approximately $15 million.
• Wall Street analysts have upgraded Ingles Markets from a "hold" to a "buy" rating, indicating positive sentiment towards the company.
• Ingles Markets has announced a quarterly dividend of $0.165 per share, reflecting a 1.1% yield and a payout ratio of 20.25%.

LSV Asset Management decreased its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,583 shares of the company's stock after selling 5,800 shares during the quarter. LSV Asset Management owned about 1.22% of Ingles Markets worth $15,083,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wells Fargo & Company MN lifted its position 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 buying an additional 184 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Ingles Markets by 6.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,087 shares of the company's stock valued at $266,000 after buying an additional 232 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Ingles Markets by 3.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,577 shares of the company's stock valued at $424,000 after buying an additional 249 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Ingles Markets by 1.6% in the first quarter. Janney Montgomery Scott LLC now owns 17,729 shares of the company's stock valued at $1,155,000 after buying an additional 286 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Ingles Markets by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,232 shares of the company's stock valued at $530,000 after buying an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 62.54% of the company's stock.

Analyst Ratings Changes

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

Ingles Markets Stock Performance

Shares of IMKTA traded down $0.12 during mid-day trading on Friday, reaching $61.51. 57,043 shares of the company's stock were exchanged, compared to its average volume of 123,035. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.19 and a quick ratio of 1.46. The stock has a market capitalization of $1.17 billion, a PE ratio of 18.84 and a beta of 0.74. The business's fifty day simple moving average is $63.69 and its 200-day simple moving average is $63.36. Ingles Markets, Incorporated has a 52-week low of $58.92 and a 52-week high of $75.63.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.38 earnings per share 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 announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, July 10th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, July 10th. Ingles Markets's payout ratio is presently 20.25%.

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.