Hsbc Holdings PLC Invests $818,000 in Ingles Markets, Incorporated $IMKTA

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

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised 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 worth $266,000 after purchasing an additional 232 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings 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 acquiring an additional 249 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings 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 acquiring an additional 286 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 acquiring an additional 313 shares in the last quarter. Finally, State of Wyoming grew its holdings in shares of Ingles Markets by 8.4% in the fourth quarter. State of Wyoming now owns 4,578 shares of the company's stock valued at $295,000 after acquiring an additional 354 shares in the last quarter. 62.54% of the stock is owned by hedge funds and other institutional investors.

Ingles Markets Stock Performance

Shares of IMKTA stock traded down $0.85 during trading on Friday, hitting $69.66. The company's stock had a trading volume of 16,123 shares, compared to its average volume of 121,729. The company has a market cap of $1.32 billion, a PE ratio of 23.45 and a beta of 0.77. The company has a current ratio of 3.14, a quick ratio of 1.53 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $65.59 and a 200-day moving average of $63.44. Ingles Markets, Incorporated has a 52 week low of $58.92 and a 52 week high of $75.63.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last announced its quarterly earnings data 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 disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Thursday, July 10th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, July 10th. Ingles Markets's dividend payout ratio (DPR) is 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.