Allspring Global Investments Holdings LLC Sells 6,050 Shares of Ingles Markets, Incorporated $IMKTA

Allspring Global Investments Holdings LLC decreased its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 9.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,471 shares of the company’s stock after selling 6,050 shares during the period. Allspring Global Investments Holdings LLC owned about 0.32% of Ingles Markets worth $5,545,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Summer Road LLC raised its stake in shares of Ingles Markets by 17,247.1% during the first quarter. Summer Road LLC now owns 433,678 shares of the company’s stock worth $38,983,000 after buying an additional 431,178 shares during the last quarter. Bragg Financial Advisors Inc lifted its holdings in shares of Ingles Markets by 22.7% during the 4th quarter. Bragg Financial Advisors Inc now owns 372,210 shares of the company’s stock valued at $25,515,000 after purchasing an additional 68,909 shares in the last quarter. UBS Group AG grew its position in shares of Ingles Markets by 167.3% in the 3rd quarter. UBS Group AG now owns 102,333 shares of the company’s stock valued at $7,118,000 after purchasing an additional 64,049 shares during the period. Brandes Investment Partners LP raised its holdings in Ingles Markets by 4.0% during the 4th quarter. Brandes Investment Partners LP now owns 1,206,646 shares of the company’s stock worth $82,716,000 after buying an additional 46,269 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Ingles Markets by 29.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 181,222 shares of the company’s stock valued at $12,423,000 after buying an additional 41,697 shares in the last quarter. 62.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Dwight L. Jacobs acquired 500 shares of the stock in a transaction on Wednesday, May 20th. The shares were purchased at an average price of $88.07 per share, for a total transaction of $44,035.00. Following the transaction, the director directly owned 500 shares of the company’s stock, valued at approximately $44,035. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.80% of the stock is owned by insiders.

Ingles Markets Trading Down 5.3%

Shares of Ingles Markets stock opened at $84.88 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.34 and a quick ratio of 1.77. The business has a fifty day simple moving average of $89.38 and a two-hundred day simple moving average of $85.91. Ingles Markets, Incorporated has a 1 year low of $59.27 and a 1 year high of $95.62. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 15.46 and a beta of 0.61.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.28 EPS for the quarter. Ingles Markets had a net margin of 1.93% and a return on equity of 6.41%. The firm had revenue of $1.31 billion for the quarter.

Ingles Markets Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 9th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 9th. Ingles Markets’s dividend payout ratio is currently 12.02%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wall Street Zen lowered Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings downgraded shares of Ingles Markets from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Ingles Markets has an average rating of “Hold”.

About Ingles Markets

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.