Aigen Investment Management LP Takes $309,000 Position in Ingles Markets, Incorporated $IMKTA

Key Points

• Aigen Investment Management LP has invested approximately $309,000 in Ingles Markets, buying 4,748 shares of the company's stock.
• Ingles Markets received a rating upgrade from Wall Street Zen, moving from a "hold" to a "buy" rating.
• The company has recently announced a quarterly dividend, yielding about 1.0%, reflecting a payout ratio of 22.22%.

Aigen Investment Management LP bought a new position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,748 shares of the company's stock, valued at approximately $309,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IMKTA. Vanguard Group Inc. boosted its position in Ingles Markets by 1.9% in the first quarter. Vanguard Group Inc. now owns 1,257,669 shares of the company's stock valued at $81,912,000 after buying an additional 22,970 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Ingles Markets by 9.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 497,217 shares of the company's stock valued at $32,384,000 after acquiring an additional 43,659 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Ingles Markets by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 411,436 shares of the company's stock valued at $26,518,000 after acquiring an additional 12,246 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Ingles Markets by 0.7% during the 1st quarter. Royce & Associates LP now owns 409,700 shares of the company's stock valued at $26,684,000 after acquiring an additional 2,700 shares in the last quarter. Finally, Systematic Financial Management LP grew its position in Ingles Markets by 2.5% during the 4th quarter. Systematic Financial Management LP now owns 201,529 shares of the company's stock worth $12,987,000 after acquiring an additional 4,858 shares during the last quarter. 62.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Ingles Markets Trading Up 1.1%

IMKTA traded up $0.68 during trading on Monday, reaching $64.85. 35,680 shares of the company's stock were exchanged, compared to its average volume of 122,507. The company has a current ratio of 3.14, a quick ratio of 1.53 and a debt-to-equity ratio of 0.32. Ingles Markets, Incorporated has a one year low of $58.92 and a one year high of $75.63. The firm has a fifty day moving average price of $63.95 and a two-hundred day moving average price of $63.23. The stock has a market capitalization of $1.23 billion, a PE ratio of 21.83 and a beta of 0.74.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.38 earnings per share for the quarter. Ingles Markets had a net margin of 1.05% and a return on equity of 3.60%.

Ingles Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Thursday, July 10th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 10th. Ingles Markets's payout ratio is currently 22.22%.

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.