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Annis Gardner Whiting Capital Advisors LLC Takes Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Ingles Markets logo with Retail/Wholesale background

Key Points

  • Annis Gardner Whiting Capital Advisors LLC purchased 6,200 shares of Ingles Markets, valued at approximately $404,000, as reported in a recent SEC filing.
  • Several institutional investors, including LPL Financial and JPMorgan Chase & Co., have significantly increased their stakes in Ingles Markets during the fourth quarter.
  • Analysts have upgraded Ingles Markets from a "hold" rating to a "buy" rating, indicating a positive outlook for the company's stock performance.
  • Five stocks to consider instead of Ingles Markets.

Annis Gardner Whiting Capital Advisors LLC bought a new position in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,200 shares of the company's stock, valued at approximately $404,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IMKTA. LPL Financial LLC boosted its holdings in Ingles Markets by 48.6% in the fourth quarter. LPL Financial LLC now owns 9,502 shares of the company's stock worth $612,000 after purchasing an additional 3,108 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Ingles Markets by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,234,699 shares of the company's stock worth $79,564,000 after purchasing an additional 7,541 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Ingles Markets by 22.3% in the fourth quarter. JPMorgan Chase & Co. now owns 66,865 shares of the company's stock worth $4,309,000 after purchasing an additional 12,213 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Ingles Markets by 6.3% in the fourth quarter. Franklin Resources Inc. now owns 7,369 shares of the company's stock worth $475,000 after purchasing an additional 436 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Ingles Markets by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 411,436 shares of the company's stock worth $26,518,000 after purchasing an additional 12,246 shares during the last quarter. Hedge funds and other institutional investors own 62.54% of the company's stock.

Analysts Set New Price Targets

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

Get Our Latest Report on IMKTA

Ingles Markets Trading Down 1.0%

Shares of Ingles Markets stock opened at $62.56 on Tuesday. The company's fifty day simple moving average is $63.70 and its 200-day simple moving average is $63.40. The stock has a market capitalization of $1.19 billion, a PE ratio of 19.19 and a beta of 0.74. Ingles Markets, Incorporated has a 1-year low of $58.92 and a 1-year high of $77.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.19 and a quick ratio of 1.46.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.80 earnings per share for the quarter. Ingles Markets had a net margin of 1.14% and a return on equity of 3.98%.

Ingles Markets Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Thursday, July 10th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, July 10th. Ingles Markets's dividend payout ratio (DPR) is presently 20.25%.

Ingles Markets Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding IMKTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report).

Institutional Ownership by Quarter for Ingles Markets (NASDAQ:IMKTA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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