Teacher Retirement System of Texas Boosts Stake in Ingles Markets, Incorporated $IMKTA

Key Points

• Teacher Retirement System of Texas raised its stake in Ingles Markets (NASDAQ:IMKTA) by 17.8% in Q4 to 92,441 shares, representing about 0.49% of the company and valued at $6.34 million.
• Ingles Markets has a market cap of about $1.72 billion, reported $1.48 EPS on $1.37 billion revenue for the quarter, and recently paid a quarterly dividend of $0.165 (annualized $0.66, yield ~0.7%).
• Institutional ownership is significant at 62.54%, several funds have increased positions recently, and analysts' consensus rating on IMKTA is currently Hold.

Teacher Retirement System of Texas raised its position in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,441 shares of the company's stock after buying an additional 13,972 shares during the period. Teacher Retirement System of Texas owned approximately 0.49% of Ingles Markets worth $6,337,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its position in Ingles Markets by 24.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 188,964 shares of the company's stock valued at $13,144,000 after buying an additional 37,194 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Ingles Markets by 4.5% in the 3rd quarter. American Century Companies Inc. now owns 561,306 shares of the company's stock valued at $39,045,000 after purchasing an additional 24,406 shares in the last quarter. VELA Investment Management LLC raised its stake in shares of Ingles Markets by 72.7% in the 3rd quarter. VELA Investment Management LLC now owns 25,065 shares of the company's stock valued at $1,744,000 after purchasing an additional 10,549 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ingles Markets by 3.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,817 shares of the company's stock valued at $272,000 after purchasing an additional 144 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Ingles Markets in the 3rd quarter valued at about $258,000. 62.54% of the stock is owned by hedge funds and other institutional investors.

Ingles Markets Stock Performance

Shares of Ingles Markets stock opened at $90.69 on Monday. The firm has a market cap of $1.72 billion, a PE ratio of 18.10 and a beta of 0.65. The firm's 50-day simple moving average is $88.20 and its 200-day simple moving average is $78.79. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.69 and a current ratio of 3.36. Ingles Markets, Incorporated has a 1 year low of $59.09 and a 1 year high of $95.62.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported $1.48 earnings per share (EPS) for the quarter. The business had revenue of $1.37 billion for the quarter. Ingles Markets had a net margin of 1.76% and a return on equity of 5.93%.

Ingles Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Thursday, April 9th were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. Ingles Markets's dividend payout ratio (DPR) is currently 13.17%.

Analyst Upgrades and Downgrades

IMKTA has been the topic of a number of recent analyst reports. Weiss Ratings restated a "hold (c-)" rating on shares of Ingles Markets in a research note on Monday, December 29th. Wall Street Zen lowered shares of Ingles Markets from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Ingles Markets currently has an average rating of "Hold".

About Ingles Markets

Ingles Markets, Inc NASDAQ: IMKTA is a family‐owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.

In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.

Want to see what other hedge funds are holding IMKTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.