Comerica Bank Boosts Stake in Ingles Markets, Incorporated $IMKTA

Key Points

• Comerica Bank increased its stake in Ingles Markets by 211.0% during the first quarter, owning 8,489 shares valued at $553,000.
• Several large investors have also boosted their holdings in Ingles Markets, with Tower Research Capital LLC up by 296.2% and BNP Paribas Financial Markets by 124.4%.
• Ingles Markets has announced a quarterly dividend of $0.165, representing a 0.9% yield and a payout ratio of 22.22%.

Comerica Bank raised its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 211.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,489 shares of the company's stock after purchasing an additional 5,759 shares during the period. Comerica Bank's holdings in Ingles Markets were worth $553,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in IMKTA. Tower Research Capital LLC TRC boosted its holdings in shares of Ingles Markets by 296.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,252 shares of the company's stock valued at $81,000 after purchasing an additional 936 shares during the last quarter. Summer Road LLC raised its position in shares of Ingles Markets by 125.0% during the 1st quarter. Summer Road LLC now owns 1,800 shares of the company's stock valued at $115,000 after buying an additional 1,000 shares in the last quarter. DMC Group LLC purchased a new stake in shares of Ingles Markets during the 1st quarter valued at about $239,000. Cetera Investment Advisers purchased a new stake in shares of Ingles Markets during the 1st quarter valued at about $242,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Ingles Markets during the 4th quarter valued at about $248,000. Institutional investors own 62.54% of the company's stock.

Ingles Markets Price Performance

Shares of NASDAQ IMKTA traded down $0.47 during mid-day trading on Friday, hitting $69.28. 68,457 shares of the company's stock traded hands, compared to its average volume of 105,672. The company's 50-day moving average is $66.09 and its two-hundred day moving average is $63.65. 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 $1.32 billion, a P/E ratio of 23.33 and a beta of 0.77. Ingles Markets, Incorporated has a 1 year low of $58.92 and a 1 year high of $75.63.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last announced 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%.

Ingles Markets Announces Dividend

The firm also recently announced 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 1.0%. The ex-dividend date was Thursday, July 10th. Ingles Markets's dividend payout ratio is currently 22.22%.

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.