Nuveen LLC Invests $2.36 Million in Ingles Markets, Incorporated $IMKTA

Key Points

• Nuveen LLC has acquired 36,157 shares of Ingles Markets, valued at approximately $2.35 million, increasing its stake to 0.19% of the company as of the end of the most recent quarter.
• Ingles Markets also reported a quarterly dividend of $0.165 per share, translating to an annual yield of 1.0%.
• Wall Street analysts have upgraded Ingles Markets' stock rating from "hold" to "buy", indicating a positive outlook for the company's future performance.

Nuveen LLC acquired a new stake in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 36,157 shares of the company's stock, valued at approximately $2,355,000. Nuveen LLC owned approximately 0.19% of Ingles Markets at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in Ingles Markets by 6.0% during the 1st 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 in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake 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 worth $424,000 after acquiring an additional 249 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Ingles Markets by 1.6% during the first quarter. Janney Montgomery Scott LLC now owns 17,729 shares of the company's stock worth $1,155,000 after buying an additional 286 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ingles Markets by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,232 shares of the company's stock valued at $530,000 after purchasing an additional 313 shares in the last quarter. Finally, State of Wyoming increased its stake in 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 purchasing an additional 354 shares in the last quarter. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Ingles Markets Stock Up 1.2%

Shares of IMKTA stock traded up $0.86 during trading hours on Thursday, reaching $70.50. The company had a trading volume of 102,282 shares, compared to its average volume of 109,969. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 23.74 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, Incorporated has a 12 month low of $58.92 and a 12 month high of $75.63. The business has a fifty day simple moving average of $65.59 and a 200-day simple moving average of $63.44.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.38 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 business also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Thursday, July 10th were paid 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 of this dividend was Thursday, July 10th. Ingles Markets's payout ratio 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.