Ingles Markets, Incorporated (NASDAQ:IMKTA) Shares Sold by Empowered Funds LLC

Empowered Funds LLC cut its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 18.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,282 shares of the company's stock after selling 21,252 shares during the period. Empowered Funds LLC owned approximately 0.49% of Ingles Markets worth $6,884,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in IMKTA. AQR Capital Management LLC raised its holdings in shares of Ingles Markets by 18.0% in the 2nd quarter. AQR Capital Management LLC now owns 55,187 shares of the company's stock valued at $3,786,000 after buying an additional 8,432 shares during the period. Brandes Investment Partners LP increased its stake in Ingles Markets by 111.0% during the second quarter. Brandes Investment Partners LP now owns 196,753 shares of the company's stock worth $13,480,000 after purchasing an additional 103,507 shares during the period. River Road Asset Management LLC increased its stake in Ingles Markets by 7.1% during the third quarter. River Road Asset Management LLC now owns 971,026 shares of the company's stock worth $72,439,000 after purchasing an additional 64,296 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Ingles Markets during the second quarter worth about $641,000. Finally, Private Advisor Group LLC purchased a new position in shares of Ingles Markets in the third quarter valued at approximately $603,000. 62.54% of the stock is owned by hedge funds and other institutional investors.

Ingles Markets Stock Down 3.6 %

Shares of NASDAQ IMKTA traded down $2.60 during mid-day trading on Friday, hitting $70.05. The company had a trading volume of 156,734 shares, compared to its average volume of 143,783. The company has a market capitalization of $1.33 billion, a PE ratio of 8.34 and a beta of 0.72. The business's 50-day simple moving average is $67.77 and its 200 day simple moving average is $70.95. Ingles Markets, Incorporated has a 1-year low of $59.73 and a 1-year high of $89.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.99 and a quick ratio of 1.49.

Ingles Markets Dividend Announcement

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

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Ingles Markets from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 21st.

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.