Universal Beteiligungs und Servicegesellschaft mbH Has $7.15 Million Holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Ingles Markets by 20.2% in Q1, owning approximately 109,760 shares valued at $7.15 million.
• Other institutional investors also raised their positions in the company, with American Century Companies Inc. growing its stake by 11.2% and LPL Financial LLC increasing by 48.6% during the fourth quarter.
• Ingles Markets' stock has declined by 1.8%, and the company recently upgraded its rating from "hold" to "buy" as per analyst recommendations.

Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 20.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,760 shares of the company's stock after buying an additional 18,412 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.58% of Ingles Markets worth $7,149,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. increased its stake in Ingles Markets by 11.2% during the fourth quarter. American Century Companies Inc. now owns 475,894 shares of the company's stock valued at $30,667,000 after acquiring an additional 47,859 shares during the period. KLP Kapitalforvaltning AS bought a new position in Ingles Markets during the fourth quarter valued at about $612,000. LPL Financial LLC increased its stake in Ingles Markets by 48.6% during the fourth quarter. LPL Financial LLC now owns 9,502 shares of the company's stock valued at $612,000 after acquiring an additional 3,108 shares during the period. Vanguard Group Inc. increased its stake in Ingles Markets by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,234,699 shares of the company's stock valued at $79,564,000 after acquiring an additional 7,541 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Ingles Markets during the fourth quarter valued at about $204,000. Institutional investors and hedge funds own 62.54% of the company's stock.

Analyst Ratings Changes

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

Ingles Markets Stock Down 1.8%

NASDAQ IMKTA opened at $65.11 on Friday. The company has a current ratio of 3.19, a quick ratio of 1.46 and a debt-to-equity ratio of 0.32. The stock's 50 day moving average is $63.45 and its two-hundred day moving average is $63.42. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 19.97 and a beta of 0.71. Ingles Markets, Incorporated has a 1-year low of $58.92 and a 1-year high of $82.01.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.80 EPS for the quarter. Ingles Markets had a return on equity of 3.98% and a net margin of 1.14%.

Ingles Markets Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, July 10th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.01%. The ex-dividend date was Thursday, July 10th. Ingles Markets's dividend payout ratio is 20.25%.

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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