Universal Beteiligungs und Servicegesellschaft mbH Sells 73,259 Shares of Ingles Markets, Incorporated $IMKTA

Universal Beteiligungs und Servicegesellschaft mbH cut its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 66.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,501 shares of the company’s stock after selling 73,259 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Ingles Markets were worth $2,313,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank raised its stake in Ingles Markets by 45,500.0% during the 2nd quarter. Huntington National Bank now owns 456 shares of the company’s stock worth $29,000 after buying an additional 455 shares during the period. Signaturefd LLC grew its stake in Ingles Markets by 82.5% in the second quarter. Signaturefd LLC now owns 522 shares of the company’s stock valued at $33,000 after acquiring an additional 236 shares during the period. First Horizon Advisors Inc. increased its stake in Ingles Markets by 192.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 632 shares of the company’s stock valued at $40,000 after purchasing an additional 416 shares in the last quarter. Summer Road LLC raised its holdings in Ingles Markets by 125.0% during the first quarter. Summer Road LLC now owns 1,800 shares of the company’s stock worth $115,000 after buying an additional 1,000 shares during the last quarter. Finally, Anchor Investment Management LLC raised its holdings in Ingles Markets by 85.0% during the first quarter. Anchor Investment Management LLC now owns 1,850 shares of the company’s stock worth $120,000 after buying an additional 850 shares during the last quarter. 62.54% of the stock is owned by institutional investors.

Ingles Markets Trading Down 0.8%

NASDAQ IMKTA opened at $75.35 on Tuesday. The company has a current ratio of 3.14, a quick ratio of 1.53 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $71.85 and a 200 day simple moving average of $66.98. Ingles Markets, Incorporated has a 12 month low of $58.92 and a 12 month high of $76.93. The firm has a market capitalization of $1.43 billion, a P/E ratio of 25.37 and a beta of 0.74.

Ingles Markets Dividend Announcement

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

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Ingles Markets in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Ingles Markets Company 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.