Summit Global Investments Has $1.26 Million Stock Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Summit Global Investments lessened its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 35.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,550 shares of the company’s stock after selling 7,885 shares during the quarter. Summit Global Investments owned approximately 0.08% of Ingles Markets worth $1,257,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Semanteon Capital Management LP purchased a new position in shares of Ingles Markets in the 4th quarter worth about $404,000. Linden Thomas Advisory Services LLC purchased a new position in shares of Ingles Markets during the 4th quarter valued at $245,000. River Road Asset Management LLC grew its stake in shares of Ingles Markets by 1.3% during the 4th quarter. River Road Asset Management LLC now owns 832,191 shares of the company’s stock worth $71,876,000 after acquiring an additional 10,900 shares during the period. DGS Capital Management LLC increased its holdings in Ingles Markets by 8.0% in the 4th quarter. DGS Capital Management LLC now owns 15,972 shares of the company’s stock worth $1,379,000 after acquiring an additional 1,188 shares during the last quarter. Finally, Sapient Capital LLC bought a new stake in Ingles Markets in the 4th quarter valued at about $216,000. Institutional investors own 62.54% of the company’s stock.

Insider Buying and Selling

In related news, Director Sharp Laura Ingle sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $75.00, for a total value of $150,000.00. Following the transaction, the director now directly owns 28,700 shares of the company’s stock, valued at approximately $2,152,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 8,000 shares of company stock worth $607,000 in the last quarter. Corporate insiders own 23.10% of the company’s stock.

Ingles Markets Trading Down 0.6 %

NASDAQ:IMKTA traded down $0.40 during mid-day trading on Friday, reaching $72.30. 80,574 shares of the company’s stock traded hands, compared to its average volume of 73,931. Ingles Markets, Incorporated has a 12-month low of $71.70 and a 12-month high of $90.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.22 and a quick ratio of 1.45. The company has a 50 day moving average price of $74.73 and a 200-day moving average price of $79.73. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 7.44 and a beta of 0.62.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings data on Thursday, February 8th. The company reported $2.28 EPS for the quarter. Ingles Markets had a net margin of 3.14% and a return on equity of 12.92%. The business had revenue of $1.48 billion during the quarter.

Ingles Markets Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, April 11th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Wednesday, April 10th. Ingles Markets’s payout ratio is 6.79%.

Analysts Set New Price Targets

IMKTA has been the topic of several recent analyst reports. TheStreet cut Ingles Markets from a “b” rating to a “c+” rating in a report on Monday, February 26th. StockNews.com cut Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Friday, February 9th.

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.