Baker Ellis Asset Management LLC Sells 29,979 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Baker Ellis Asset Management LLC cut its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 55.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,840 shares of the company’s stock after selling 29,979 shares during the quarter. Baker Ellis Asset Management LLC owned approximately 0.13% of Ingles Markets worth $1,536,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Ingles Markets by 413.9% in the third quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock valued at $30,000 after buying an additional 327 shares in the last quarter. CWM LLC increased its position in Ingles Markets by 75.5% in the third quarter. CWM LLC now owns 760 shares of the company’s stock worth $57,000 after purchasing an additional 327 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Ingles Markets in the second quarter worth about $69,000. FNY Investment Advisers LLC acquired a new stake in Ingles Markets in the fourth quarter worth about $96,000. Finally, Caprock Group LLC acquired a new stake in Ingles Markets in the third quarter worth about $203,000. 62.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Ingles Markets from a “hold” rating to a “buy” rating in a research report on Monday, December 30th.

Ingles Markets Trading Down 1.8 %

NASDAQ:IMKTA opened at $63.26 on Thursday. Ingles Markets, Incorporated has a fifty-two week low of $59.73 and a fifty-two week high of $85.87. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.89 and a quick ratio of 1.45. The stock has a market capitalization of $1.20 billion, a PE ratio of 11.40 and a beta of 0.76. The business’s 50-day simple moving average is $67.91 and its 200-day simple moving average is $69.78.

Ingles Markets (NASDAQ:IMKTA) last released its earnings results on Friday, December 27th. The company reported ($0.08) EPS for the quarter. Ingles Markets had a net margin of 1.87% and a return on equity of 6.90%.

Ingles Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, January 10th. Ingles Markets’s dividend payout ratio is currently 11.89%.

Ingles Markets 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.