Ballentine Partners LLC Makes New Investment in Ingles Markets, Incorporated $IMKTA

Key Points

• Ballentine Partners LLC has invested approximately $344,000 in Ingles Markets, acquiring 5,434 shares in the second quarter.
• Several institutional investors, including Vanguard Group Inc. and Allianz Asset Management GmbH, have increased their stakes in Ingles Markets, indicating strong institutional interest in the stock.
• Ingles Markets reported earnings of $1.38 per share for the last quarter, with a net margin of 1.05% and a return on equity of 3.60%.

Ballentine Partners LLC bought a new position in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,434 shares of the company's stock, valued at approximately $344,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Ingles Markets by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 1,257,669 shares of the company's stock worth $81,912,000 after purchasing an additional 22,970 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Ingles Markets by 8.1% during the 1st quarter. American Century Companies Inc. now owns 514,302 shares of the company's stock worth $33,497,000 after purchasing an additional 38,408 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Ingles Markets by 9.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 497,217 shares of the company's stock worth $32,384,000 after purchasing an additional 43,659 shares during the last quarter. Royce & Associates LP increased its stake 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 worth $26,684,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of Ingles Markets by 23.4% during the 1st quarter. Allianz Asset Management GmbH now owns 147,777 shares of the company's stock worth $9,625,000 after purchasing an additional 28,045 shares during the last quarter. Hedge funds and other institutional investors own 62.54% of the company's stock.

Ingles Markets Stock Performance

NASDAQ:IMKTA opened at $68.71 on Monday. Ingles Markets, Incorporated has a 1 year low of $58.92 and a 1 year high of $75.63. The firm's fifty day simple moving average is $66.56 and its 200 day simple moving average is $64.18. The company has a current ratio of 3.14, a quick ratio of 1.53 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.30 billion, a PE ratio of 23.13 and a beta of 0.77.

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

About Ingles Markets

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.

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