River Road Asset Management LLC raised its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 832,191 shares of the company's stock after acquiring an additional 10,900 shares during the quarter. River Road Asset Management LLC owned approximately 4.38% of Ingles Markets worth $71,876,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of IMKTA. Advisor Group Holdings Inc. lifted its holdings in shares of Ingles Markets by 16.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,852 shares of the company's stock valued at $166,000 after purchasing an additional 258 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Ingles Markets by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 128,661 shares of the company's stock valued at $11,456,000 after purchasing an additional 2,344 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Ingles Markets by 13.3% during the 1st quarter. US Bancorp DE now owns 3,093 shares of the company's stock valued at $275,000 after purchasing an additional 362 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Ingles Markets by 278.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,930 shares of the company's stock valued at $171,000 after purchasing an additional 1,420 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Ingles Markets by 58.0% during the 1st quarter. MetLife Investment Management LLC now owns 7,760 shares of the company's stock valued at $691,000 after purchasing an additional 2,849 shares during the last quarter. Institutional investors own 62.54% of the company's stock.
Ingles Markets Price Performance
Shares of NASDAQ:IMKTA traded down $0.17 during trading on Wednesday, reaching $73.10. 68,700 shares of the company's stock traded hands, compared to its average volume of 82,555. Ingles Markets, Incorporated has a fifty-two week low of $72.72 and a fifty-two week high of $94.68. The company has a quick ratio of 1.45, a current ratio of 3.22 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1.39 billion, a PE ratio of 7.52 and a beta of 0.60. The company has a 50-day simple moving average of $75.89 and a 200-day simple moving average of $80.23.
Ingles Markets (NASDAQ:IMKTA - Get Free Report) last posted its earnings results on Thursday, February 8th. The company reported $2.28 EPS for the quarter. Ingles Markets had a return on equity of 12.92% and a net margin of 3.14%. The firm had revenue of $1.48 billion for the quarter.
Ingles Markets Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Thursday, April 11th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.90%. The ex-dividend date is Wednesday, April 10th. Ingles Markets's payout ratio is 6.79%.
Insider Buying and Selling
In related news, Director Sharp Laura Ingle sold 4,000 shares of Ingles Markets stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $76.25, for a total value of $305,000.00. Following the sale, the director now directly owns 20,700 shares in the company, valued at approximately $1,578,375. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 8,000 shares of company stock worth $607,000. Insiders own 23.10% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. StockNews.com lowered Ingles Markets from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 9th. TheStreet lowered Ingles Markets from a "b" rating to a "c+" rating in a research note on Monday, February 26th.
View Our Latest Stock Report on IMKTA
About Ingles Markets
(
Free Report)
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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