Charles Schwab Investment Management Inc. raised its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 9.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 quarter.
Other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in shares of Ingles Markets by 0.3% in the fourth quarter. Wells Fargo & Company MN now owns 61,502 shares of the company's stock valued at $3,963,000 after buying an additional 184 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ingles Markets by 6.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,087 shares of the company's stock valued at $266,000 after buying an additional 232 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in shares of Ingles Markets by 3.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,577 shares of the company's stock valued at $424,000 after buying an additional 249 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Ingles Markets by 1.6% in the first quarter. Janney Montgomery Scott LLC now owns 17,729 shares of the company's stock valued at $1,155,000 after buying an additional 286 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ingles Markets by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,232 shares of the company's stock valued at $530,000 after buying an additional 313 shares during the period. Institutional investors own 62.54% of the company's stock.
Ingles Markets Price Performance
NASDAQ IMKTA traded down $0.40 on Monday, hitting $67.58. 81,197 shares of the company's stock were exchanged, compared to its average volume of 137,125. The stock has a 50-day moving average of $64.60 and a 200-day moving average of $63.23. 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 52 week low of $58.92 and a 52 week high of $75.63. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 22.75 and a beta of 0.74.
Ingles Markets (NASDAQ:IMKTA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.38 earnings per share 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 firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, July 10th were paid a dividend of $0.165 per share. The ex-dividend date was Thursday, July 10th. This represents a $0.66 annualized dividend and a yield of 1.0%. Ingles Markets's dividend payout ratio is presently 22.22%.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded Ingles Markets from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.
View Our Latest Report on Ingles Markets
Ingles Markets 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.
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