O Shaughnessy Asset Management LLC Reduces Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

O Shaughnessy Asset Management LLC decreased its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 11.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,061 shares of the company’s stock after selling 809 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Ingles Markets were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FNY Investment Advisers LLC bought a new position in Ingles Markets in the 4th quarter worth approximately $96,000. EntryPoint Capital LLC purchased a new stake in shares of Ingles Markets during the fourth quarter worth $204,000. Captrust Financial Advisors bought a new position in shares of Ingles Markets in the third quarter worth $206,000. Exchange Traded Concepts LLC grew its position in shares of Ingles Markets by 4.5% in 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. Finally, Ballentine Partners LLC grew its position in shares of Ingles Markets by 7.5% in the fourth quarter. Ballentine Partners LLC now owns 4,523 shares of the company’s stock valued at $291,000 after purchasing an additional 314 shares in the last quarter. Institutional investors own 62.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Ingles Markets from a “buy” rating to a “hold” rating in a research note on Monday, February 10th.

Ingles Markets Price Performance

IMKTA stock opened at $63.87 on Friday. The firm has a 50 day moving average of $63.47 and a 200-day moving average of $65.71. The firm has a market capitalization of $1.21 billion, a P/E ratio of 15.43 and a beta of 0.75. Ingles Markets, Incorporated has a 12 month low of $58.92 and a 12 month high of $82.01. The company has a current ratio of 3.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.33.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.87 EPS 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 10th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, April 10th. Ingles Markets’s payout ratio is 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.