Ingles Markets, Incorporated (NASDAQ:IMKTA) Shares Sold by Federated Hermes Inc.

Posted by Defense World Staff on Aug 17th, 2023

Federated Hermes Inc. lowered its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA – Free Report) by 12.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,401 shares of the company’s stock after selling 3,468 shares during the quarter. Federated Hermes Inc. owned approximately 0.13% of Ingles Markets worth $2,253,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IMKTA. Price T Rowe Associates Inc. MD increased its holdings in shares of Ingles Markets by 2.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,868 shares of the company’s stock valued at $422,000 after purchasing an additional 128 shares during the last quarter. Ellevest Inc. increased its holdings in shares of Ingles Markets by 27.8% in the fourth quarter. Ellevest Inc. now owns 652 shares of the company’s stock valued at $63,000 after purchasing an additional 142 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Ingles Markets by 3.9% in the fourth quarter. Arizona State Retirement System now owns 3,852 shares of the company’s stock valued at $372,000 after purchasing an additional 146 shares during the last quarter. Captrust Financial Advisors grew its position in Ingles Markets by 2.5% in the fourth quarter. Captrust Financial Advisors now owns 6,035 shares of the company’s stock worth $582,000 after acquiring an additional 149 shares during the period. Finally, Lazard Asset Management LLC grew its position in Ingles Markets by 0.3% in the first quarter. Lazard Asset Management LLC now owns 81,794 shares of the company’s stock worth $7,283,000 after acquiring an additional 219 shares during the period. Institutional investors and hedge funds own 61.61% of the company’s stock.

Insider Activity at Ingles Markets

In related news, Director Sharp Laura Ingle sold 1,000 shares of Ingles Markets stock in a transaction on Friday, August 11th. The stock was sold at an average price of $83.00, for a total value of $83,000.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at $83,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 31.90% of the stock is currently owned by company insiders.

Ingles Markets Trading Up 0.1 %

IMKTA opened at $82.47 on Thursday. Ingles Markets, Incorporated has a 52 week low of $78.32 and a 52 week high of $102.99. The business has a fifty day simple moving average of $83.66 and a 200-day simple moving average of $87.20. The firm has a market cap of $1.57 billion, a P/E ratio of 6.87 and a beta of 0.68. The company has a quick ratio of 1.32, a current ratio of 2.86 and a debt-to-equity ratio of 0.38.

Ingles Markets Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Thursday, July 6th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.66 dividend on an annualized basis and a yield of 0.80%. Ingles Markets’s dividend payout ratio (DPR) is presently 5.50%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Ingles Markets in a research report on Thursday. They issued a “strong-buy” rating for the company.

Get Our Latest Research Report on IMKTA

About Ingles Markets

(Free Report)

Ingles Markets, Incorporated 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.