River Road Asset Management LLC boosted its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 0.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 887,792 shares of the company’s stock after acquiring an additional 3,240 shares during the period. River Road Asset Management LLC’s holdings in Ingles Markets were worth $30,407,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in IMKTA. BlueMountain Capital Management LLC purchased a new stake in shares of Ingles Markets during the 2nd quarter valued at $101,000. First Trust Advisors LP purchased a new stake in Ingles Markets during the 3rd quarter worth $735,000. Victory Capital Management Inc. boosted its position in Ingles Markets by 46.0% during the 3rd quarter. Victory Capital Management Inc. now owns 21,885 shares of the company’s stock worth $750,000 after purchasing an additional 6,895 shares during the period. Strs Ohio boosted its position in Ingles Markets by 19.8% during the 2nd quarter. Strs Ohio now owns 26,000 shares of the company’s stock worth $826,000 after purchasing an additional 4,300 shares during the period. Finally, Aperio Group LLC boosted its position in Ingles Markets by 7.8% during the 2nd quarter. Aperio Group LLC now owns 32,476 shares of the company’s stock worth $1,033,000 after purchasing an additional 2,346 shares during the period. 63.72% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on IMKTA shares. BidaskClub upgraded shares of Ingles Markets from a “hold” rating to a “buy” rating in a report on Friday, August 24th. Zacks Investment Research upgraded shares of Ingles Markets from a “sell” rating to a “hold” rating in a report on Monday, September 3rd. Finally, ValuEngine upgraded shares of Ingles Markets from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 31st.
Shares of IMKTA stock opened at $33.04 on Monday. Ingles Markets, Incorporated has a 12 month low of $22.70 and a 12 month high of $37.65. The company has a current ratio of 1.96, a quick ratio of 0.50 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $669.36 million, a price-to-earnings ratio of 12.42, a PEG ratio of 1.08 and a beta of 0.50.
Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings data on Thursday, August 9th. The company reported $0.91 EPS for the quarter. Ingles Markets had a net margin of 2.38% and a return on equity of 16.76%. The firm had revenue of $1.03 billion for the quarter. Sell-side analysts forecast that Ingles Markets, Incorporated will post 2.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Thursday, October 11th were issued a $0.165 dividend. The ex-dividend date was Wednesday, October 10th. This represents a $0.66 dividend on an annualized basis and a yield of 2.00%. Ingles Markets’s dividend payout ratio is currently 24.81%.
In other news, Director Sharp Laura Ingle sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $36.00, for a total value of $90,000.00. Following the sale, the director now owns 30,000 shares in the company, valued at approximately $1,080,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 29.50% of the company’s stock.
Ingles Markets Company Profile
Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. Its supermarkets offer various food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, such as fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.
Further Reading: Fundamental Analysis and Individual Investors
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