KLP Kapitalforvaltning AS Sells 700 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

KLP Kapitalforvaltning AS reduced its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 7.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,800 shares of the company’s stock after selling 700 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Ingles Markets were worth $573,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in Ingles Markets during the 1st quarter valued at about $2,137,000. Janney Montgomery Scott LLC grew its stake in shares of Ingles Markets by 1.6% in the first quarter. Janney Montgomery Scott LLC now owns 17,729 shares of the company’s stock worth $1,155,000 after acquiring an additional 286 shares during the period. Millennium Management LLC grew its stake in shares of Ingles Markets by 22.9% in the fourth quarter. Millennium Management LLC now owns 69,306 shares of the company’s stock worth $4,466,000 after acquiring an additional 12,933 shares during the period. GAMMA Investing LLC grew its stake in shares of Ingles Markets by 6,448.6% in the first quarter. GAMMA Investing LLC now owns 11,984 shares of the company’s stock worth $7,810,000 after acquiring an additional 11,801 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Ingles Markets by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,234,699 shares of the company’s stock worth $79,564,000 after acquiring an additional 7,541 shares during the period. 62.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Ingles Markets from a “hold” rating to a “buy” rating in a research note on Tuesday, May 6th.

Ingles Markets Stock Performance

Shares of IMKTA stock opened at $63.00 on Thursday. The company has a 50 day moving average price of $63.57 and a 200-day moving average price of $63.42. Ingles Markets, Incorporated has a 52 week low of $58.92 and a 52 week high of $82.01. The firm has a market capitalization of $1.20 billion, a PE ratio of 19.33 and a beta of 0.71. The company has a quick ratio of 1.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.32.

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

Ingles Markets Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $0.66 dividend on an annualized basis and a yield of 1.05%. Ingles Markets’s dividend payout ratio is currently 20.25%.

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.