Allspring Global Investments Holdings LLC Sells 6,050 Shares of Ingles Markets, Incorporated $IMKTA

Allspring Global Investments Holdings LLC lessened its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,471 shares of the company’s stock after selling 6,050 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ingles Markets were worth $5,545,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Parallel Advisors LLC increased its stake in shares of Ingles Markets by 14.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,561 shares of the company’s stock valued at $109,000 after purchasing an additional 197 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Ingles Markets by 4.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,809 shares of the company’s stock worth $330,000 after purchasing an additional 207 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Ingles Markets by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,163 shares of the company’s stock worth $327,000 after purchasing an additional 209 shares in the last quarter. Ballentine Partners LLC lifted its stake in Ingles Markets by 4.0% in the 4th quarter. Ballentine Partners LLC now owns 5,643 shares of the company’s stock valued at $387,000 after purchasing an additional 217 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Ingles Markets by 1.5% in the 3rd quarter. Legal & General Group Plc now owns 16,096 shares of the company’s stock valued at $1,120,000 after purchasing an additional 234 shares during the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.

Ingles Markets Trading Down 5.3%

NASDAQ IMKTA opened at $84.88 on Friday. The firm has a market capitalization of $1.61 billion, a PE ratio of 15.46 and a beta of 0.61. The company has a current ratio of 3.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average price is $89.38 and its two-hundred day moving average price is $85.91. Ingles Markets, Incorporated has a 12 month low of $59.27 and a 12 month high of $95.62.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.28 EPS for the quarter. Ingles Markets had a return on equity of 6.41% and a net margin of 1.93%.The firm had revenue of $1.31 billion during the quarter.

Ingles Markets Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Thursday, July 9th were issued a $0.165 dividend. The ex-dividend date was Thursday, July 9th. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. Ingles Markets’s dividend payout ratio is currently 12.02%.

Insider Buying and Selling at Ingles Markets

In other news, Director Dwight L. Jacobs purchased 500 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average cost of $88.07 per share, with a total value of $44,035.00. Following the completion of the transaction, the director directly owned 500 shares of the company’s stock, valued at approximately $44,035. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IMKTA. Weiss Ratings cut shares of Ingles Markets from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Wall Street Zen cut Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Ingles Markets Company Profile

Ingles Markets, Inc (NASDAQ: IMKTA) is a family‐owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.

In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.