Empowered Funds LLC Sells 21,252 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Empowered Funds LLC decreased its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 18.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 92,282 shares of the company’s stock after selling 21,252 shares during the quarter. Empowered Funds LLC owned 0.49% of Ingles Markets worth $6,884,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Russell Investments Group Ltd. increased its stake in Ingles Markets by 3,487.5% in the 1st quarter. Russell Investments Group Ltd. now owns 2,583 shares of the company’s stock worth $198,000 after buying an additional 2,511 shares during the period. Cynosure Group LLC bought a new stake in shares of Ingles Markets during the first quarter valued at approximately $312,000. Gamco Investors INC. ET AL raised its stake in shares of Ingles Markets by 1.2% during the first quarter. Gamco Investors INC. ET AL now owns 550,595 shares of the company’s stock valued at $42,220,000 after acquiring an additional 6,475 shares in the last quarter. BOKF NA purchased a new stake in shares of Ingles Markets in the first quarter valued at approximately $267,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Ingles Markets by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,933 shares of the company’s stock worth $609,000 after purchasing an additional 912 shares in the last quarter. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 21st.

Ingles Markets Stock Performance

Shares of NASDAQ:IMKTA opened at $70.05 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.99 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 8.34 and a beta of 0.72. The firm has a 50 day moving average of $67.77 and a 200 day moving average of $70.96. Ingles Markets, Incorporated has a 52 week low of $59.73 and a 52 week high of $89.59.

Ingles Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 10th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Thursday, October 10th. Ingles Markets’s payout ratio is currently 7.86%.

About Ingles Markets

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.