DGS Capital Management LLC Raises Holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA)

DGS Capital Management LLC lifted its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,972 shares of the company’s stock after buying an additional 1,188 shares during the quarter. DGS Capital Management LLC owned approximately 0.08% of Ingles Markets worth $1,379,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of IMKTA. Ensign Peak Advisors Inc purchased a new position in Ingles Markets during the third quarter worth approximately $35,000. Osaic Holdings Inc. boosted its position in Ingles Markets by 53.0% during the second quarter. Osaic Holdings Inc. now owns 439 shares of the company’s stock worth $36,000 after purchasing an additional 152 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Ingles Markets during the first quarter worth approximately $45,000. Quantbot Technologies LP raised its holdings in shares of Ingles Markets by 717.0% during the first quarter. Quantbot Technologies LP now owns 817 shares of the company’s stock valued at $72,000 after acquiring an additional 717 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Ingles Markets by 1,066.0% during the first quarter. Covestor Ltd now owns 1,096 shares of the company’s stock valued at $98,000 after acquiring an additional 1,002 shares during the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Insider Activity at Ingles Markets

In related news, Director Sharp Laura Ingle sold 4,000 shares of Ingles Markets stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $76.25, for a total value of $305,000.00. Following the completion of the transaction, the director now directly owns 20,700 shares in the company, valued at $1,578,375. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders sold 8,000 shares of company stock worth $607,000. Company insiders own 23.10% of the company’s stock.

Ingles Markets Trading Up 0.3 %

IMKTA stock traded up $0.22 during midday trading on Tuesday, hitting $73.56. 13,753 shares of the company’s stock were exchanged, compared to its average volume of 81,929. Ingles Markets, Incorporated has a 1-year low of $72.72 and a 1-year high of $94.68. The business has a 50-day simple moving average of $76.24 and a two-hundred day simple moving average of $80.26. The stock has a market capitalization of $1.40 billion, a PE ratio of 7.55 and a beta of 0.60. The company has a current ratio of 3.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.36.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings results on Thursday, February 8th. The company reported $2.28 EPS for the quarter. Ingles Markets had a return on equity of 12.92% and a net margin of 3.14%. The business had revenue of $1.48 billion during the quarter.

Ingles Markets Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Thursday, April 11th will be issued a $0.165 dividend. The ex-dividend date is Wednesday, April 10th. This represents a $0.66 dividend on an annualized basis and a yield of 0.90%. Ingles Markets’s dividend payout ratio (DPR) is presently 6.79%.

Wall Street Analyst Weigh In

IMKTA has been the subject of a number of research analyst reports. TheStreet cut Ingles Markets from a “b” rating to a “c+” rating in a report on Monday, February 26th. StockNews.com cut Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Friday, February 9th.

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.