Renaissance Technologies LLC Sells 46,169 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Renaissance Technologies LLC reduced its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 24.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 145,189 shares of the company's stock after selling 46,169 shares during the period. Renaissance Technologies LLC owned about 0.76% of Ingles Markets worth $9,356,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new position in shares of Ingles Markets during the fourth quarter valued at approximately $30,000. FNY Investment Advisers LLC bought a new position in Ingles Markets during the 4th quarter valued at $96,000. EntryPoint Capital LLC purchased a new position in Ingles Markets during the 4th quarter worth $204,000. ExodusPoint Capital Management LP purchased a new stake in shares of Ingles Markets in the fourth quarter valued at about $210,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Ingles Markets by 4.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,369 shares of the company's stock valued at $282,000 after purchasing an additional 187 shares in the last quarter. 62.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Ingles Markets from a "buy" rating to a "hold" rating in a research note on Monday, February 10th.

Ingles Markets Stock Performance

Ingles Markets stock traded up $0.48 during mid-day trading on Wednesday, reaching $64.76. 11,527 shares of the company's stock were exchanged, compared to its average volume of 116,566. The firm has a market capitalization of $1.23 billion, a PE ratio of 15.64 and a beta of 0.75. The company has a quick ratio of 1.45, a current ratio of 3.24 and a debt-to-equity ratio of 0.33. The business's fifty day simple moving average is $63.02 and its 200 day simple moving average is $65.33. Ingles Markets, Incorporated has a one year low of $58.92 and a one year high of $82.01.

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

Ingles Markets Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Thursday, April 10th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.02%. Ingles Markets's dividend payout ratio is presently 15.94%.

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.