Voloridge Investment Management LLC Has $5.37 Million Stake in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Voloridge Investment Management LLC raised its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 19.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,328 shares of the company's stock after acquiring an additional 13,567 shares during the quarter. Voloridge Investment Management LLC owned about 0.44% of Ingles Markets worth $5,370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avidian Wealth Enterprises LLC increased its stake in Ingles Markets by 2.1% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 7,443 shares of the company's stock valued at $480,000 after buying an additional 150 shares during the last quarter. Wells Fargo & Company MN increased its stake in Ingles Markets by 0.3% in the 4th quarter. Wells Fargo & Company MN now owns 61,502 shares of the company's stock valued at $3,963,000 after buying an additional 184 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Ingles Markets by 4.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,369 shares of the company's stock valued at $282,000 after buying an additional 187 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Ingles Markets by 3.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,577 shares of the company's stock valued at $424,000 after buying an additional 249 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ingles Markets by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,232 shares of the company's stock valued at $530,000 after buying an additional 313 shares during the last quarter. 62.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Ingles Markets Stock Performance

Shares of IMKTA stock traded down $0.32 on Friday, reaching $62.79. The stock had a trading volume of 163,256 shares, compared to its average volume of 122,748. The company has a quick ratio of 1.45, a current ratio of 3.24 and a debt-to-equity ratio of 0.33. The firm's 50-day moving average is $62.54 and its two-hundred day moving average is $64.75. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 15.17 and a beta of 0.73. Ingles Markets, Incorporated has a 12 month low of $58.92 and a 12 month high of $82.01.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.80 EPS for the quarter. Ingles Markets had a net margin of 1.45% and a return on equity of 5.09%.

Ingles Markets Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Thursday, April 10th were given a dividend of $0.165 per share. The ex-dividend date was Thursday, April 10th. This represents a $0.66 annualized dividend and a dividend yield of 1.05%. Ingles Markets's dividend payout ratio is 20.25%.

Ingles Markets 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.