12,712 Shares in Ingles Markets, Incorporated $IMKTA Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC has acquired a new stake in Ingles Markets, with an investment of approximately $818,000 for 12,712 shares, representing 0.07% of the company.
• Other institutional investors, including Wealth Enhancement Advisory Services and Janney Montgomery Scott LLC, have also increased their positions in Ingles Markets, indicating growing institutional interest.
• Ingles Markets announced a quarterly dividend of $0.165 per share, with an annualized yield of 1.0% and a payout ratio of 22.22%.

Hsbc Holdings PLC purchased a new stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 12,712 shares of the company's stock, valued at approximately $818,000. Hsbc Holdings PLC owned approximately 0.07% of Ingles Markets as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in Ingles Markets by 8.1% during the 1st quarter. American Century Companies Inc. now owns 514,302 shares of the company's stock valued at $33,497,000 after purchasing an additional 38,408 shares in the last quarter. Summer Road LLC boosted its stake in 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 purchasing an additional 1,000 shares in the last quarter. Nuveen LLC bought a new position in Ingles Markets during the 1st quarter valued at $2,355,000. Aigen Investment Management LP acquired a new stake in shares of Ingles Markets during the 1st quarter valued at $309,000. Finally, Cynosure Group LLC lifted its position in shares of Ingles Markets by 26.5% during the 1st quarter. Cynosure Group LLC now owns 5,629 shares of the company's stock valued at $367,000 after acquiring an additional 1,180 shares during the last quarter. 62.54% of the stock is owned by institutional investors.

Ingles Markets Price Performance

Shares of NASDAQ:IMKTA traded up $0.56 on Wednesday, reaching $69.64. 132,084 shares of the company traded hands, compared to its average volume of 122,483. Ingles Markets, Incorporated has a fifty-two week low of $58.92 and a fifty-two week high of $75.63. The company's 50 day moving average is $65.29 and its 200-day moving average is $63.37. The stock has a market capitalization of $1.32 billion, a PE ratio of 23.45 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 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 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 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, July 10th. Ingles Markets's dividend payout ratio (DPR) is currently 22.22%.

Wall Street Analyst Weigh In

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

Ingles Markets 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.