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

KLP Kapitalforvaltning AS trimmed its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IMKTA. Janus Henderson Group PLC boosted its stake in Ingles Markets by 1,228.1% in the fourth quarter. Janus Henderson Group PLC now owns 194,756 shares of the company’s stock valued at $12,550,000 after acquiring an additional 180,092 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Ingles Markets during the 4th quarter valued at approximately $5,886,000. Raymond James Financial Inc. purchased a new stake in shares of Ingles Markets during the 4th quarter valued at approximately $3,559,000. DC Investments Management LLC purchased a new stake in shares of Ingles Markets during the 4th quarter valued at approximately $2,792,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Ingles Markets by 124.4% during the 4th quarter. BNP Paribas Financial Markets now owns 62,775 shares of the company’s stock valued at $4,045,000 after buying an additional 34,798 shares in the last quarter. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Ingles Markets Price Performance

IMKTA stock opened at $63.00 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.46 and a current ratio of 3.19. Ingles Markets, Incorporated has a 52 week low of $58.92 and a 52 week high of $82.01. The firm’s fifty day moving average is $63.57 and its 200 day moving average is $63.42. The firm has a market cap of $1.20 billion, a P/E ratio of 19.33 and a beta of 0.71.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.80 earnings per share 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 company also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, July 10th were given a dividend of $0.165 per share. The ex-dividend date was Thursday, July 10th. This represents a $0.66 annualized dividend and a yield of 1.05%. Ingles Markets’s payout ratio is currently 20.25%.

Analyst Upgrades and Downgrades

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 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.