Ingles Markets, Incorporated (NASDAQ:IMKTA) Stake Cut by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 12.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 202,484 shares of the company’s stock after selling 29,371 shares during the period. Renaissance Technologies LLC owned about 1.07% of Ingles Markets worth $13,892,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Quadrature Capital Ltd acquired a new position in Ingles Markets during the 4th quarter valued at about $1,574,000. Empowered Funds LLC grew its holdings in Ingles Markets by 11.2% in the 1st quarter. Empowered Funds LLC now owns 107,622 shares of the company’s stock worth $8,252,000 after buying an additional 10,842 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in 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 buying an additional 16,877 shares in the last quarter. Bridgeway Capital Management LLC increased its position in Ingles Markets by 3.0% in the 4th 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 period. Finally, Janney Montgomery Scott LLC raised its stake in Ingles Markets by 4.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,252 shares of the company’s stock valued at $1,323,000 after acquiring an additional 731 shares in the last quarter. 62.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com cut Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday.

Ingles Markets Price Performance

NASDAQ IMKTA opened at $73.04 on Monday. Ingles Markets, Incorporated has a 12 month low of $67.10 and a 12 month high of $89.59. The firm has a market capitalization of $1.39 billion, a PE ratio of 7.88 and a beta of 0.70. The company’s 50 day simple moving average is $74.26 and its 200 day simple moving average is $73.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.99 and a quick ratio of 1.49.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.67 earnings per share (EPS) for the quarter. The company had revenue of $1.39 billion for the quarter. Ingles Markets had a return on equity of 10.58% and a net margin of 2.74%.

Ingles Markets Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Thursday, July 11th were paid a $0.165 dividend. The ex-dividend date was Thursday, July 11th. This represents a $0.66 annualized dividend and a dividend yield of 0.90%. Ingles Markets’s dividend payout ratio is currently 7.12%.

Insider Buying and Selling

In other news, Director Sharp Laura Ingle sold 5,901 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $68.02, for a total transaction of $401,386.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 23.10% of the company’s stock.

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.