LSV Asset Management Sells 75,005 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

LSV Asset Management reduced its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 18.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,914 shares of the company’s stock after selling 75,005 shares during the period. LSV Asset Management owned 1.69% of Ingles Markets worth $24,608,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in IMKTA. Quadrature Capital Ltd purchased a new stake in shares of Ingles Markets in the 4th quarter worth approximately $1,574,000. Allspring Global Investments Holdings LLC lifted its position in shares of Ingles Markets by 69.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 41,219 shares of the company’s stock worth $3,161,000 after purchasing an additional 16,877 shares during the period. American Century Companies Inc. lifted its position in shares of Ingles Markets by 9.5% in the 3rd quarter. American Century Companies Inc. now owns 257,857 shares of the company’s stock worth $19,424,000 after purchasing an additional 22,400 shares during the period. Sapient Capital LLC purchased a new stake in shares of Ingles Markets in the 4th quarter worth approximately $216,000. Finally, Bridgeway Capital Management LLC lifted its position in Ingles Markets by 3.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 225,124 shares of the company’s stock valued at $19,444,000 after acquiring an additional 6,528 shares during the last quarter. 62.54% of the stock is currently owned by institutional investors.

Ingles Markets Stock Up 0.9 %

NASDAQ:IMKTA traded up $0.64 during midday trading on Friday, reaching $73.67. 84,125 shares of the stock traded hands, compared to its average volume of 85,160. Ingles Markets, Incorporated has a 12-month low of $67.10 and a 12-month high of $89.59. The business has a 50-day moving average of $71.11 and a two-hundred day moving average of $76.01. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 3.20. The stock has a market capitalization of $1.40 billion, a PE ratio of 7.95 and a beta of 0.66.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings results on Thursday, May 9th. The company reported $1.68 earnings per share (EPS) for the quarter. The business had revenue of $1.37 billion during the quarter. Ingles Markets had a net margin of 3.00% and a return on equity of 11.97%.

Ingles Markets Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Thursday, July 11th will be given a dividend of $0.165 per share. The ex-dividend date is Thursday, July 11th. This represents a $0.66 annualized dividend and a yield of 0.90%. Ingles Markets’s dividend payout ratio is presently 7.12%.

Insider Activity at Ingles Markets

In other news, Director Sharp Laura Ingle sold 4,799 shares of Ingles Markets stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $70.38, for a total value of $337,753.62. Following the sale, the director now owns 5,901 shares in the company, valued at $415,312.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 16,700 shares of company stock worth $1,160,640. 23.10% of the stock is owned by company insiders.

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.