Federated Hermes Inc. Sells 3,756 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Federated Hermes Inc. lessened its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 39.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,710 shares of the company’s stock after selling 3,756 shares during the period. Federated Hermes Inc.’s holdings in Ingles Markets were worth $493,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Ingles Markets by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 130,223 shares of the company’s stock worth $9,810,000 after purchasing an additional 2,064 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ingles Markets by 51.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,540 shares of the company’s stock worth $191,000 after buying an additional 863 shares during the period. Mackenzie Financial Corp increased its position in Ingles Markets by 46.7% in the 3rd quarter. Mackenzie Financial Corp now owns 3,801 shares of the company’s stock valued at $293,000 after acquiring an additional 1,210 shares during the period. Inspire Advisors LLC increased its position in Ingles Markets by 19.2% in the 3rd quarter. Inspire Advisors LLC now owns 12,014 shares of the company’s stock valued at $905,000 after acquiring an additional 1,937 shares during the period. Finally, Inspire Investing LLC lifted its holdings in shares of Ingles Markets by 136.3% during the third quarter. Inspire Investing LLC now owns 8,016 shares of the company’s stock worth $604,000 after purchasing an additional 4,623 shares during the period. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IMKTA shares. TheStreet downgraded Ingles Markets from a “b” rating to a “c+” rating in a report on Monday, February 26th. StockNews.com downgraded Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 9th.

Ingles Markets Stock Down 0.6 %

Ingles Markets stock opened at $72.30 on Friday. The firm has a 50 day moving average price of $74.73 and a two-hundred day moving average price of $79.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.45 and a current ratio of 3.22. Ingles Markets, Incorporated has a 52-week low of $71.70 and a 52-week high of $90.52. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 7.44 and a beta of 0.62.

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

Ingles Markets Announces Dividend

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

Insider Buying and Selling

In other news, Director Sharp Laura Ingle sold 4,000 shares of Ingles Markets stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $76.25, for a total value of $305,000.00. Following the completion of the sale, the director now owns 20,700 shares in the company, valued at approximately $1,578,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 8,000 shares of company stock valued at $607,000 over the last 90 days. Company insiders own 23.10% of the company’s stock.

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.