Vestcor Inc Cuts Stake in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Vestcor Inc trimmed its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,378 shares of the company’s stock after selling 1,614 shares during the quarter. Vestcor Inc’s holdings in Ingles Markets were worth $5,502,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new position in shares of Ingles Markets in the 4th quarter worth about $96,000. Caprock Group LLC purchased a new position in Ingles Markets in the third quarter valued at approximately $203,000. Captrust Financial Advisors acquired a new position in Ingles Markets during the third quarter valued at approximately $206,000. Intech Investment Management LLC purchased a new stake in Ingles Markets during the third quarter worth approximately $266,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Ingles Markets by 4.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,369 shares of the company’s stock worth $282,000 after acquiring an additional 187 shares in the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.

Ingles Markets Price Performance

Shares of NASDAQ IMKTA opened at $61.78 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.24 and a quick ratio of 1.45. Ingles Markets, Incorporated has a 1-year low of $58.92 and a 1-year high of $82.01. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 14.92 and a beta of 0.71. The business has a 50-day moving average of $64.10 and a 200-day moving average of $67.22.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.87 earnings per share for the quarter. Ingles Markets had a return on equity of 5.09% and a net margin of 1.45%.

Ingles Markets Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a $0.165 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.66 annualized dividend and a dividend yield of 1.07%. Ingles Markets’s dividend payout ratio (DPR) is presently 15.94%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Ingles Markets from a “buy” rating to a “hold” rating in a report on Monday, February 10th.

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.