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

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

Ingles Markets Price Performance

Shares of NASDAQ:IMKTA traded up $0.75 on Thursday, hitting $68.70. The company's stock had a trading volume of 19,568 shares, compared to its average volume of 121,512. The company has a 50-day simple moving average of $65.96 and a 200 day simple moving average of $63.58. Ingles Markets, Incorporated has a 1 year low of $58.92 and a 1 year high of $75.63. The company has a market capitalization of $1.30 billion, a PE ratio of 23.13 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.14 and a quick ratio of 1.53.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last released its quarterly 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Thursday, July 10th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 10th. Ingles Markets's dividend payout ratio (DPR) 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.