Sapient Capital LLC Takes $216,000 Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Sapient Capital LLC acquired a new stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,500 shares of the company’s stock, valued at approximately $216,000.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in Ingles Markets by 2.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,868 shares of the company’s stock worth $422,000 after buying an additional 128 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Ingles Markets by 2.5% during the 4th quarter. Captrust Financial Advisors now owns 6,035 shares of the company’s stock worth $582,000 after buying an additional 149 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in Ingles Markets by 53.0% during the 2nd quarter. Osaic Holdings Inc. now owns 439 shares of the company’s stock worth $36,000 after buying an additional 152 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Ingles Markets by 0.3% during the 1st quarter. Lazard Asset Management LLC now owns 81,794 shares of the company’s stock worth $7,283,000 after buying an additional 219 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in Ingles Markets by 10.4% during the 1st quarter. Advisory Services Network LLC now owns 2,389 shares of the company’s stock worth $212,000 after buying an additional 225 shares during the last quarter. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at Ingles Markets

In related news, Director Sharp Laura Ingle sold 2,000 shares of the business’s stock in a transaction dated 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 owns 28,700 shares in the company, valued at approximately $2,152,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 8,000 shares of company stock worth $607,000 in the last quarter. Company insiders own 23.10% of the company’s stock.

Ingles Markets Stock Up 0.5 %

Ingles Markets stock opened at $73.34 on Tuesday. Ingles Markets, Incorporated has a fifty-two week low of $72.77 and a fifty-two week high of $94.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.45 and a current ratio of 3.22. The company has a market capitalization of $1.39 billion, a P/E ratio of 7.55 and a beta of 0.60. The stock has a 50-day simple moving average of $76.24 and a 200-day simple moving average of $80.26.

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

Ingles Markets Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Thursday, April 11th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, April 10th. Ingles Markets’s dividend payout ratio (DPR) is presently 6.79%.

About Ingles Markets

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.