Vanguard Group Inc. Increases Holdings in Ingles Markets, Incorporated $IMKTA

Vanguard Group Inc. increased its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 1.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,300,136 shares of the company’s stock after buying an additional 20,189 shares during the quarter. Vanguard Group Inc. owned approximately 0.07% of Ingles Markets worth $89,124,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Allianz Asset Management GmbH grew its position in shares of Ingles Markets by 24.5% in the third quarter. Allianz Asset Management GmbH now owns 188,964 shares of the company’s stock valued at $13,144,000 after purchasing an additional 37,194 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Ingles Markets by 42.7% in the third quarter. Teacher Retirement System of Texas now owns 78,469 shares of the company’s stock valued at $5,458,000 after purchasing an additional 23,479 shares in the last quarter. American Century Companies Inc. grew its position in shares of Ingles Markets by 4.5% in the third quarter. American Century Companies Inc. now owns 561,306 shares of the company’s stock valued at $39,045,000 after purchasing an additional 24,406 shares in the last quarter. VELA Investment Management LLC grew its position in shares of Ingles Markets by 72.7% in the third quarter. VELA Investment Management LLC now owns 25,065 shares of the company’s stock valued at $1,744,000 after purchasing an additional 10,549 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its position in shares of Ingles Markets by 4.4% in the third quarter. Linden Thomas Advisory Services LLC now owns 13,869 shares of the company’s stock valued at $965,000 after purchasing an additional 585 shares in the last quarter. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Ingles Markets Price Performance

Ingles Markets stock opened at $85.24 on Thursday. The company has a quick ratio of 1.69, a current ratio of 3.34 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $88.40 and a 200 day simple moving average of $79.95. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 15.53 and a beta of 0.62. Ingles Markets, Incorporated has a 52 week low of $59.09 and a 52 week high of $95.62.

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

Ingles Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Thursday, April 9th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, April 9th. Ingles Markets’s dividend payout ratio is 12.02%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Ingles Markets from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Ingles Markets Company 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.