Sanctuary Advisors LLC Raises Stock Holdings in Ingles Markets, Incorporated $IMKTA

Sanctuary Advisors LLC lifted its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 126.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,090 shares of the company’s stock after acquiring an additional 9,546 shares during the period. Sanctuary Advisors LLC owned 0.09% of Ingles Markets worth $1,536,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC purchased a new position in Ingles Markets in the 1st quarter valued at about $38,000. Highlander Partners L.P. purchased a new stake in shares of Ingles Markets during the fourth quarter worth about $45,000. Eastern Bank acquired a new position in shares of Ingles Markets in the fourth quarter valued at approximately $48,000. Torren Management LLC purchased a new position in shares of Ingles Markets during the fourth quarter valued at approximately $51,000. Finally, Huntington National Bank lifted its stake in shares of Ingles Markets by 63.1% during the fourth quarter. Huntington National Bank now owns 778 shares of the company’s stock valued at $53,000 after buying an additional 301 shares during the period. Institutional investors and hedge funds own 62.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IMKTA. Weiss Ratings downgraded Ingles Markets from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Wall Street Zen downgraded Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Ingles Markets Stock Performance

NASDAQ:IMKTA 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 firm has a 50-day moving average of $89.38 and a two-hundred day moving average of $85.91. The stock has a market cap of $1.61 billion, a P/E ratio of 15.46 and a beta of 0.61. Ingles Markets, Incorporated has a 1-year low of $59.27 and a 1-year high of $95.62.

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

Ingles Markets Dividend Announcement

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

Insider Activity

In other Ingles Markets news, Director Dwight L. Jacobs bought 500 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $88.07 per share, with a total value of $44,035.00. Following the transaction, the director directly owned 500 shares in the company, valued at approximately $44,035. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 22.80% of the stock is currently owned by insiders.

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.