TrueMark Investments LLC Makes New $2.18 Million Investment in Ingles Markets, Incorporated $IMKTA

Key Points

• TrueMark Investments LLC has made a new investment of approximately $2.18 million in Ingles Markets by acquiring 34,387 shares during the 2nd quarter.
• Institutional ownership in Ingles Markets is significant, with approximately 62.54% of the stock owned by hedge funds and other institutional investors.
• Ingles Markets recently announced a quarterly dividend of $0.165, translating to an annual yield of 0.9%.

TrueMark Investments LLC bought a new position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 34,387 shares of the company's stock, valued at approximately $2,179,000. TrueMark Investments LLC owned approximately 0.18% of Ingles Markets as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Significant Wealth Partners LLC boosted its position in shares of Ingles Markets by 2.8% during the 2nd quarter. Significant Wealth Partners LLC now owns 7,390 shares of the company's stock worth $468,000 after purchasing an additional 204 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of 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. Signaturefd LLC boosted its position in shares of Ingles Markets by 82.5% during the 2nd quarter. Signaturefd LLC now owns 522 shares of the company's stock worth $33,000 after purchasing an additional 236 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Ingles Markets by 1.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,729 shares of the company's stock worth $1,155,000 after purchasing an additional 286 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ingles Markets by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,617 shares of the company's stock worth $561,000 after purchasing an additional 385 shares in the last quarter. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "hold (c-)" rating on shares of Ingles Markets in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

Ingles Markets Price Performance

Ingles Markets stock opened at $73.50 on Friday. Ingles Markets, Incorporated has a 52 week low of $58.92 and a 52 week high of $75.63. The company has a quick ratio of 1.53, a current ratio of 3.14 and a debt-to-equity ratio of 0.32. The firm's 50-day simple moving average is $68.95 and its 200 day simple moving average is $65.07. The firm has a market capitalization of $1.40 billion, a PE ratio of 24.75 and a beta of 0.75.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.38 EPS for the quarter. Ingles Markets had a net margin of 1.05% and a return on equity of 3.60%.

Ingles Markets Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, October 9th. Ingles Markets's dividend payout ratio is 22.22%.

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.

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