GAMMA Investing LLC Purchases 11,801 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

GAMMA Investing LLC increased its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 6,448.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,984 shares of the company's stock after buying an additional 11,801 shares during the quarter. GAMMA Investing LLC owned 0.06% of Ingles Markets worth $7,810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Ingles Markets by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,234,699 shares of the company's stock worth $79,564,000 after acquiring an additional 7,541 shares during the period. River Road Asset Management LLC boosted its position in Ingles Markets by 0.6% during the fourth quarter. River Road Asset Management LLC now owns 976,424 shares of the company's stock worth $62,921,000 after purchasing an additional 5,398 shares during the period. Brandes Investment Partners LP increased its holdings in shares of Ingles Markets by 42.4% in the fourth quarter. Brandes Investment Partners LP now owns 533,982 shares of the company's stock valued at $34,410,000 after purchasing an additional 159,097 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Ingles Markets by 11.2% in the fourth quarter. American Century Companies Inc. now owns 475,894 shares of the company's stock valued at $30,667,000 after purchasing an additional 47,859 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Ingles Markets by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,558 shares of the company's stock valued at $29,227,000 after purchasing an additional 48,000 shares during the period. Institutional investors and hedge funds own 62.54% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Ingles Markets from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

Ingles Markets Stock Performance

Shares of NASDAQ:IMKTA traded up $0.31 during trading on Thursday, reaching $60.52. 112,376 shares of the stock were exchanged, compared to its average volume of 123,370. Ingles Markets, Incorporated has a 12 month low of $58.92 and a 12 month high of $82.01. The stock has a 50-day moving average price of $62.04 and a 200-day moving average price of $64.25. The company has a current ratio of 3.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.33. The firm has a market cap of $1.15 billion, a PE ratio of 14.62 and a beta of 0.71.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.80 EPS for the quarter. Ingles Markets had a return on equity of 5.09% and a net margin of 1.45%.

Ingles Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Thursday, April 10th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.09%. The ex-dividend date was Thursday, April 10th. Ingles Markets's dividend payout ratio (DPR) is presently 20.25%.

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.