LSV Asset Management cut its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 3.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 919,096 shares of the company’s stock after selling 30,255 shares during the period. LSV Asset Management owned about 4.54% of Ingles Markets, worth $30,605,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in Ingles Markets, by 13.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,002 shares of the company’s stock valued at $129,000 after purchasing an additional 346 shares during the period. Victory Capital Management Inc. boosted its stake in Ingles Markets, by 54.9% during the 1st quarter. Victory Capital Management Inc. now owns 3,233 shares of the company’s stock valued at $140,000 after purchasing an additional 1,146 shares during the period. Menta Capital LLC acquired a new position in Ingles Markets, during the 1st quarter valued at about $250,000. Wedge Capital Management L L P NC acquired a new position in Ingles Markets, during the 2nd quarter valued at about $209,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Ingles Markets, during the 2nd quarter valued at about $211,000. 58.94% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on IMKTA. Zacks Investment Research lowered shares of Ingles Markets, from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. TheStreet downgraded shares of Ingles Markets, from a “b” rating to a “c+” rating in a research report on Thursday, June 15th.
Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) opened at 23.35 on Tuesday. The firm’s 50 day moving average is $25.95 and its 200-day moving average is $36.29. The company has a market capitalization of $473.05 million, a P/E ratio of 9.73 and a beta of 0.66. Ingles Markets, Incorporated has a 52-week low of $20.75 and a 52-week high of $52.40.
Ingles Markets, (NASDAQ:IMKTA) last posted its earnings results on Wednesday, August 2nd. The company reported $0.57 earnings per share for the quarter. Ingles Markets, had a net margin of 1.26% and a return on equity of 10.08%. The business had revenue of $984.40 million for the quarter. Equities research analysts anticipate that Ingles Markets, Incorporated will post $2.75 earnings per share for the current fiscal year.
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About Ingles Markets,
Ingles Markets, Incorporated (Ingles) is a supermarket chain in the southeast United States. The Company’s segments include retail grocery and other. Its other segment consists of fluid dairy operations and shopping center rentals. As of September 24, 2016, the Company operated 201 supermarkets in Georgia, North Carolina, South Carolina, Tennessee, Virginia and Alabama.
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