Ingles Markets, Incorporated $IMKTA Stake Lifted by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Ingles Markets by 9.6%, acquiring an additional 43,659 shares, bringing their total ownership to 497,217 shares valued at approximately $32.38 million.
• Wall Street analysts have raised Ingles Markets' rating from a "hold" to a "buy", indicating positive growth expectations for the company.
• Ingles Markets recently announced a quarterly dividend of $0.165 per share, yielding 1.0% with a payout ratio of 22.22%.

Charles Schwab Investment Management Inc. increased its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 9.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 497,217 shares of the company's stock after acquiring an additional 43,659 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.62% of Ingles Markets worth $32,384,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in 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 acquiring an additional 22,970 shares in the last quarter. Royce & Associates LP lifted its position in 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 acquiring an additional 2,700 shares in the last quarter. Systematic Financial Management LP raised its position in shares of Ingles Markets by 2.5% in the 4th quarter. Systematic Financial Management LP now owns 201,529 shares of the company's stock valued at $12,987,000 after purchasing an additional 4,858 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Ingles Markets by 1,228.1% in the 4th quarter. Janus Henderson Group PLC now owns 194,756 shares of the company's stock valued at $12,550,000 after purchasing an additional 180,092 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of 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 purchasing an additional 7,520 shares in the last quarter. 62.54% of the stock is owned by institutional investors and hedge funds.

Ingles Markets Stock Performance

Shares of IMKTA stock traded up $2.50 on Friday, hitting $67.98. 154,619 shares of the stock traded hands, compared to its average volume of 133,468. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.14 and a quick ratio of 1.53. The company has a market capitalization of $1.29 billion, a PE ratio of 22.89 and a beta of 0.74. Ingles Markets, Incorporated has a 1-year low of $58.92 and a 1-year high of $75.63. The company's fifty day moving average is $64.47 and its 200 day moving average is $63.26.

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

Ingles Markets Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Investors 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 1.0%. The ex-dividend date of this dividend was Thursday, July 10th. Ingles Markets's dividend payout ratio is currently 22.22%.

Analyst Upgrades and Downgrades

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

Ingles Markets Company 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.