Ingles Markets, Incorporated $IMKTA Stock Holdings Lifted by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its investment in Ingles Markets by 1.9%, holding approximately 6.62% of the company, valued at about $81.91 million.
• Several other institutional investors have also significantly increased their stakes in Ingles Markets, with hedge funds owning 62.54% of the company's stock.
• Wall Street analysts recently upgraded Ingles Markets from a "hold" rating to a "buy" rating, indicating a positive outlook for the company's future performance.

Vanguard Group Inc. boosted its position in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 1.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,257,669 shares of the company's stock after acquiring an additional 22,970 shares during the period. Vanguard Group Inc. owned about 6.62% of Ingles Markets worth $81,912,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC grew its stake in shares of Ingles Markets by 1,228.1% during the 4th quarter. Janus Henderson Group PLC now owns 194,756 shares of the company's stock valued at $12,550,000 after buying an additional 180,092 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Ingles Markets during the 4th quarter valued at $5,886,000. Raymond James Financial Inc. purchased a new stake in shares of Ingles Markets during the 4th quarter valued at $3,559,000. DC Investments Management LLC purchased a new stake in shares of Ingles Markets during the 4th quarter valued at $2,792,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Ingles Markets by 124.4% during the 4th quarter. BNP Paribas Financial Markets now owns 62,775 shares of the company's stock valued at $4,045,000 after buying an additional 34,798 shares during the period. 62.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Ingles Markets Price Performance

IMKTA traded up $0.07 during trading on Friday, reaching $67.69. The stock had a trading volume of 113,433 shares, compared to its average volume of 130,250. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 22.79 and a beta of 0.74. The company has a quick ratio of 1.53, a current ratio of 3.14 and a debt-to-equity ratio of 0.32. Ingles Markets, Incorporated has a 1-year low of $58.92 and a 1-year high of $75.63. The stock has a 50 day moving average of $65.10 and a two-hundred day moving average of $63.33.

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

Ingles Markets Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, July 10th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, July 10th. 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.