Millennium Management LLC Raises Stake in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Millennium Management LLC raised its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 22.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,306 shares of the company's stock after buying an additional 12,933 shares during the period. Millennium Management LLC owned 0.36% of Ingles Markets worth $4,466,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new stake in Ingles Markets in the 4th quarter valued at $30,000. Sterling Capital Management LLC raised its holdings in Ingles Markets by 811.8% during the 4th quarter. Sterling Capital Management LLC now owns 465 shares of the company's stock worth $30,000 after purchasing an additional 414 shares during the last quarter. Anchor Investment Management LLC bought a new stake in Ingles Markets during the 4th quarter worth about $64,000. Tower Research Capital LLC TRC increased its stake 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 during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Ingles Markets in the 4th quarter valued at about $204,000. Institutional investors own 62.54% of the company's stock.

Ingles Markets Stock Performance

IMKTA stock traded down $0.67 during trading hours on Tuesday, hitting $60.94. 166,866 shares of the stock were exchanged, compared to its average volume of 122,896. The company has a current ratio of 3.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.33. Ingles Markets, Incorporated has a 12 month low of $58.92 and a 12 month high of $82.01. The firm has a market capitalization of $1.16 billion, a P/E ratio of 14.72 and a beta of 0.73. The company has a 50-day simple moving average of $62.44 and a two-hundred day simple moving average of $64.61.

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

Ingles Markets Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Thursday, April 10th were issued a dividend of $0.165 per share. The ex-dividend date was Thursday, April 10th. This represents a $0.66 annualized dividend and a dividend yield of 1.08%. Ingles Markets's dividend payout ratio is 20.25%.

Wall Street Analysts Forecast Growth

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

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.