Ingles Markets, Incorporated $IMKTA Shares Purchased by Royal Bank of Canada

Royal Bank of Canada boosted its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 103.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,035 shares of the company’s stock after buying an additional 6,122 shares during the quarter. Royal Bank of Canada owned approximately 0.06% of Ingles Markets worth $1,082,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Ingles Markets by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 1,300,136 shares of the company’s stock worth $89,124,000 after acquiring an additional 20,189 shares during the last quarter. Brandes Investment Partners LP boosted its stake in shares of Ingles Markets by 4.0% during the fourth quarter. Brandes Investment Partners LP now owns 1,206,646 shares of the company’s stock valued at $82,716,000 after acquiring an additional 46,269 shares during the last quarter. River Road Asset Management LLC boosted its stake in shares of Ingles Markets by 2.3% during the fourth quarter. River Road Asset Management LLC now owns 1,007,275 shares of the company’s stock valued at $69,049,000 after acquiring an additional 22,979 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ingles Markets by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 916,178 shares of the company’s stock valued at $82,356,000 after acquiring an additional 2,816 shares during the last quarter. Finally, Summer Road LLC increased its position in Ingles Markets by 17,247.1% during the 1st quarter. Summer Road LLC now owns 433,678 shares of the company’s stock worth $38,983,000 after purchasing an additional 431,178 shares in the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.

Ingles Markets Trading Up 0.1%

Shares of IMKTA opened at $84.94 on Friday. The stock has a fifty day moving average of $88.79 and a two-hundred day moving average of $88.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.75 and a current ratio of 3.21. The company has a market capitalization of $1.61 billion, a PE ratio of 15.53 and a beta of 0.60. Ingles Markets, Incorporated has a fifty-two week low of $65.90 and a fifty-two week high of $95.62.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.36 earnings per share for the quarter. Ingles Markets had a return on equity of 6.30% and a net margin of 1.92%.The company had revenue of $1.37 billion for the quarter.

Ingles Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 9th were given a dividend of $0.165 per share. The ex-dividend date was Thursday, July 9th. This represents a $0.66 annualized dividend and a yield of 0.8%. Ingles Markets’s dividend payout ratio is 12.07%.

Analysts Set New Price Targets

Several research analysts recently weighed in on IMKTA shares. Weiss Ratings raised shares of Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 24th. Wall Street Zen cut shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Ingles Markets currently 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.