Cynosure Group LLC Takes Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Cynosure Group LLC purchased a new stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 4,072 shares of the company’s stock, valued at approximately $312,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quadrature Capital Ltd acquired a new stake in shares of Ingles Markets in the 4th quarter worth approximately $1,574,000. Empowered Funds LLC lifted its stake in shares of Ingles Markets by 11.2% in the 1st quarter. Empowered Funds LLC now owns 107,622 shares of the company’s stock worth $8,252,000 after acquiring an additional 10,842 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Ingles Markets by 69.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 41,219 shares of the company’s stock worth $3,161,000 after acquiring an additional 16,877 shares during the period. Sapient Capital LLC acquired a new stake in shares of Ingles Markets in the 4th quarter worth approximately $216,000. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Ingles Markets by 3.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 225,124 shares of the company’s stock worth $19,444,000 after acquiring an additional 6,528 shares during the period. 62.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Sharp Laura Ingle sold 4,799 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $70.38, for a total transaction of $337,753.62. Following the sale, the director now owns 5,901 shares in the company, valued at $415,312.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 16,700 shares of company stock worth $1,160,640 over the last 90 days. 23.10% of the stock is owned by company insiders.

Ingles Markets Price Performance

Shares of NASDAQ IMKTA traded up $0.33 during midday trading on Tuesday, reaching $76.73. The company’s stock had a trading volume of 14,659 shares, compared to its average volume of 85,140. The company has a current ratio of 3.20, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $71.46 and a 200 day moving average price of $75.36. Ingles Markets, Incorporated has a one year low of $67.10 and a one year high of $89.59. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 8.24 and a beta of 0.66.

Ingles Markets (NASDAQ:IMKTA) last released its earnings results on Thursday, May 9th. The company reported $1.68 EPS for the quarter. Ingles Markets had a net margin of 3.00% and a return on equity of 11.97%. The business had revenue of $1.37 billion for the quarter.

Ingles Markets Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Thursday, July 11th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.86%. Ingles Markets’s dividend payout ratio is currently 7.12%.

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.