Royce & Associates LP Has $32.41 Million Stake in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Royce & Associates LP lessened its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 14.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 434,386 shares of the company's stock after selling 75,607 shares during the period. Royce & Associates LP owned 2.29% of Ingles Markets worth $32,405,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. AQR Capital Management LLC lifted its holdings in 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 acquiring an additional 8,432 shares during the last quarter. Brandes Investment Partners LP grew its stake in shares of Ingles Markets by 111.0% in the 2nd 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 last quarter. River Road Asset Management LLC raised its holdings in shares of Ingles Markets by 7.1% in the 3rd 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 in the last quarter. Sanctuary Advisors LLC acquired a new stake in Ingles Markets during the second quarter valued at approximately $641,000. Finally, Private Advisor Group LLC bought a new stake in Ingles Markets during the third quarter worth approximately $603,000. Institutional investors and hedge funds own 62.54% of the company's stock.

Analysts Set New Price Targets

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

Ingles Markets Stock Down 3.6 %

Shares of IMKTA stock traded down $2.60 during trading on Friday, hitting $70.05. 156,734 shares of the company were exchanged, compared to its average volume of 101,856. The business's 50-day simple moving average is $67.81 and its 200 day simple moving average is $70.98. Ingles Markets, Incorporated has a twelve month low of $59.73 and a twelve month high of $89.59. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 8.34 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 2.99.

Ingles Markets Dividend Announcement

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

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.