Ingles Markets, Incorporated $IMKTA Stock Holdings Lessened by Polaris Capital Management LLC

Polaris Capital Management LLC lessened its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 42.1% during the second quarter, Holdings Channel reports. The fund owned 32,583 shares of the company’s stock after selling 23,700 shares during the quarter. Polaris Capital Management LLC’s holdings in Ingles Markets were worth $2,065,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of IMKTA. Charles Schwab Investment Management Inc. increased its holdings in shares of Ingles Markets by 9.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 497,217 shares of the company’s stock worth $32,384,000 after acquiring an additional 43,659 shares during the period. American Century Companies Inc. increased its stake in Ingles Markets by 8.1% during the 1st quarter. American Century Companies Inc. now owns 514,302 shares of the company’s stock valued at $33,497,000 after buying an additional 38,408 shares during the period. Nuveen LLC bought a new stake in shares of Ingles Markets during the 1st quarter worth about $2,355,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Ingles Markets during the 1st quarter worth about $2,137,000. Finally, Allianz Asset Management GmbH raised its position in shares of Ingles Markets by 23.4% during the 1st quarter. Allianz Asset Management GmbH now owns 147,777 shares of the company’s stock worth $9,625,000 after buying an additional 28,045 shares in the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Ingles Markets in a report on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Ingles Markets Stock Performance

Shares of IMKTA opened at $72.32 on Friday. The company’s 50 day moving average price is $66.94 and its 200 day moving average price is $64.44. Ingles Markets, Incorporated has a 52 week low of $58.92 and a 52 week high of $75.63. The company has a market capitalization of $1.37 billion, a PE ratio of 24.35 and a beta of 0.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.53 and a current ratio of 3.14.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings data on Thursday, August 7th. The company reported $1.38 EPS for the quarter. Ingles Markets had a net margin of 1.05% and a return on equity of 3.60%.

Ingles Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Ingles Markets’s payout ratio is presently 22.22%.

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.