Allspring Global Investments Holdings LLC Sells 8,252 Shares of Ingles Markets, Incorporated $IMKTA

Allspring Global Investments Holdings LLC reduced its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 10.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 67,521 shares of the company’s stock after selling 8,252 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.36% of Ingles Markets worth $4,704,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH raised its holdings in Ingles Markets by 24.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 188,964 shares of the company’s stock worth $13,144,000 after acquiring an additional 37,194 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Ingles Markets by 42.7% during the third quarter. Teacher Retirement System of Texas now owns 78,469 shares of the company’s stock valued at $5,458,000 after purchasing an additional 23,479 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Ingles Markets by 4.5% during the third quarter. American Century Companies Inc. now owns 561,306 shares of the company’s stock valued at $39,045,000 after purchasing an additional 24,406 shares in the last quarter. Gate City Capital Management LLC bought a new position in shares of Ingles Markets during the second quarter valued at $2,724,000. Finally, VELA Investment Management LLC lifted its holdings in shares of Ingles Markets by 72.7% during the third quarter. VELA Investment Management LLC now owns 25,065 shares of the company’s stock valued at $1,744,000 after purchasing an additional 10,549 shares in the last quarter. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Ingles Markets Price Performance

Shares of NASDAQ:IMKTA opened at $92.54 on Wednesday. The firm’s 50 day moving average price is $85.81 and its 200-day moving average price is $76.84. Ingles Markets, Incorporated has a twelve month low of $59.09 and a twelve month high of $93.21. The company has a quick ratio of 1.69, a current ratio of 3.36 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.76 billion, a PE ratio of 18.47 and a beta of 0.65.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings data on Thursday, February 5th. The company reported $1.48 earnings per share for the quarter. The firm had revenue of $1.37 billion for the quarter. Ingles Markets had a net margin of 1.76% and a return on equity of 5.93%.

Ingles Markets Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, April 9th. Ingles Markets’s dividend payout ratio (DPR) is currently 13.17%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IMKTA shares. Wall Street Zen raised shares of Ingles Markets from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ingles Markets in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Ingles Markets Profile

Ingles Markets, Inc (NASDAQ: IMKTA) is a family‐owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.

In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.