DC Investments Management LLC Makes New Investment in Ingles Markets, Incorporated (NASDAQ:IMKTA)

DC Investments Management LLC bought a new stake in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 43,324 shares of the company's stock, valued at approximately $2,792,000. Ingles Markets comprises about 1.8% of DC Investments Management LLC's holdings, making the stock its 13th largest position. DC Investments Management LLC owned approximately 0.23% of Ingles Markets at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of IMKTA. Centiva Capital LP raised its position in Ingles Markets by 62.5% in the 4th quarter. Centiva Capital LP now owns 5,559 shares of the company's stock valued at $358,000 after purchasing an additional 2,139 shares during the last quarter. BNP Paribas Financial Markets raised its position in Ingles Markets by 124.4% in the 4th quarter. BNP Paribas Financial Markets now owns 62,775 shares of the company's stock valued at $4,045,000 after purchasing an additional 34,798 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in Ingles Markets by 3.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,577 shares of the company's stock valued at $424,000 after purchasing an additional 249 shares during the last quarter. Northern Trust Corp increased its position in Ingles Markets by 4.2% in the 4th quarter. Northern Trust Corp now owns 187,100 shares of the company's stock valued at $12,057,000 after acquiring an additional 7,520 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Ingles Markets in the 4th quarter valued at about $1,434,000. 62.54% of the stock is owned by hedge funds and other institutional investors.

Ingles Markets Stock Performance

IMKTA stock traded up $1.32 during trading on Monday, hitting $62.81. The company had a trading volume of 165,095 shares, compared to its average volume of 119,795. The firm has a 50-day moving average price of $62.66 and a 200-day moving average price of $65.32. Ingles Markets, Incorporated has a 1-year low of $58.92 and a 1-year high of $82.01. The company has a quick ratio of 1.45, a current ratio of 3.24 and a debt-to-equity ratio of 0.33. The firm has a market cap of $1.19 billion, a PE ratio of 15.17 and a beta of 0.73.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.80 earnings per share for the quarter. Ingles Markets had a net margin of 1.45% and a return on equity of 5.09%.

Ingles Markets Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Thursday, April 10th were given a $0.165 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $0.66 dividend on an annualized basis and a yield of 1.05%. Ingles Markets's dividend payout ratio (DPR) is 20.25%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Ingles Markets from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th.

Ingles Markets Profile

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.