Empowered Funds LLC Raises Stock Holdings in Ingles Markets, Incorporated $IMKTA

Empowered Funds LLC lifted its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 78.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,548 shares of the company’s stock after buying an additional 49,115 shares during the quarter. Empowered Funds LLC owned about 0.59% of Ingles Markets worth $10,027,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Summer Road LLC increased its holdings in Ingles Markets by 17,247.1% in the 1st quarter. Summer Road LLC now owns 433,678 shares of the company’s stock worth $38,983,000 after acquiring an additional 431,178 shares in the last quarter. Towle & Co. purchased a new position in Ingles Markets during the first quarter valued at approximately $6,333,000. Bragg Financial Advisors Inc boosted its position in shares of Ingles Markets by 22.7% in the fourth quarter. Bragg Financial Advisors Inc now owns 372,210 shares of the company’s stock worth $25,515,000 after purchasing an additional 68,909 shares during the period. UBS Group AG boosted its position in shares of Ingles Markets by 167.3% in the third quarter. UBS Group AG now owns 102,333 shares of the company’s stock worth $7,118,000 after purchasing an additional 64,049 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Ingles Markets by 330.2% in the first quarter. Sei Investments Co. now owns 64,747 shares of the company’s stock worth $5,820,000 after purchasing an additional 49,695 shares in the last quarter. 62.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Dwight L. Jacobs acquired 500 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $88.07 per share, with a total value of $44,035.00. Following the acquisition, the director directly owned 500 shares of the company’s stock, valued at approximately $44,035. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 22.80% of the stock is currently owned by insiders.

Ingles Markets Trading Down 1.2%

IMKTA stock opened at $89.70 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.34 and a quick ratio of 1.77. Ingles Markets, Incorporated has a 1-year low of $59.27 and a 1-year high of $95.62. The business has a 50 day simple moving average of $89.59 and a two-hundred day simple moving average of $86.60. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 16.34 and a beta of 0.61.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 1.93% and a return on equity of 6.41%. The firm had revenue of $1.31 billion for the quarter.

Ingles Markets Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 9th were paid a $0.165 dividend. The ex-dividend date was Thursday, July 9th. This represents a $0.66 annualized dividend and a yield of 0.7%. Ingles Markets’s payout ratio is presently 12.02%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on IMKTA shares. Weiss Ratings upgraded shares of Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Wall Street Zen lowered Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

Ingles Markets Profile

Ingles Markets, Inc (NASDAQ: IMKTA) is a family‐owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.

In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.