Insider Selling: Ingles Markets, Incorporated (NASDAQ:IMKTA) Director Sells $337,753.62 in Stock

Ingles Markets, Incorporated (NASDAQ:IMKTA) Director Sharp Laura Ingle sold 4,799 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $70.38, for a total value of $337,753.62. Following the completion of the transaction, the director now directly owns 5,901 shares in the company, valued at approximately $415,312.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Sharp Laura Ingle also recently made the following trade(s):

• On Monday, June 10th, Sharp Laura Ingle sold 6,000 shares of Ingles Markets stock. The stock was sold at an average price of $70.25, for a total value of $421,500.00.
• On Thursday, March 28th, Sharp Laura Ingle sold 4,000 shares of Ingles Markets stock. The shares were sold at an average price of $76.25, for a total value of $305,000.00.

Ingles Markets Stock Performance

Shares of IMKTA opened at $68.40 on Friday. The company has a 50-day moving average of $71.90 and a two-hundred day moving average of $77.19. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 7.38 and a beta of 0.67. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.20 and a quick ratio of 1.53. Ingles Markets, Incorporated has a one year low of $67.10 and a one year high of $89.59.

Ingles Markets (NASDAQ:IMKTA) last announced its earnings results on Thursday, May 9th. The company reported $1.68 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 3.00% and a return on equity of 11.97%. The company had revenue of $1.37 billion for the quarter.

Ingles Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Thursday, April 11th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $0.66 annualized dividend and a yield of 0.96%. Ingles Markets’s dividend payout ratio (DPR) is presently 7.12%.

Institutional Trading of Ingles Markets

A number of hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC increased its position in Ingles Markets by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 735 shares of the company’s stock worth $63,000 after purchasing an additional 170 shares during the last quarter. Quest Partners LLC acquired a new stake in Ingles Markets in the fourth quarter valued at approximately $78,000. Russell Investments Group Ltd. grew its position in Ingles Markets by 3,487.5% in the first quarter. Russell Investments Group Ltd. now owns 2,583 shares of the company’s stock worth $198,000 after acquiring an additional 2,511 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new position in shares of Ingles Markets during the 4th quarter worth $207,000. Finally, Leuthold Group LLC acquired a new stake in shares of Ingles Markets in the 4th quarter valued at $210,000. 62.54% of the stock is owned by hedge funds and other institutional investors.

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.