Northern Trust Corp Purchases 7,520 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Northern Trust Corp grew its position in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,100 shares of the company's stock after acquiring an additional 7,520 shares during the period. Northern Trust Corp owned about 0.99% of Ingles Markets worth $12,057,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new position in Ingles Markets during the 4th quarter worth $30,000. Sterling Capital Management LLC increased its position in Ingles Markets by 811.8% during the fourth quarter. Sterling Capital Management LLC now owns 465 shares of the company's stock worth $30,000 after acquiring an additional 414 shares during the period. Anchor Investment Management LLC acquired a new stake in Ingles Markets in the 4th quarter worth about $64,000. Tower Research Capital LLC TRC raised its stake in Ingles Markets by 296.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,252 shares of the company's stock worth $81,000 after purchasing an additional 936 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Ingles Markets in the 4th quarter valued at about $204,000. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Ingles Markets from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th.

Ingles Markets Price Performance

IMKTA stock traded down $0.35 during mid-day trading on Tuesday, hitting $61.63. The stock had a trading volume of 90,688 shares, compared to its average volume of 120,516. The firm has a fifty day simple moving average of $62.69 and a 200 day simple moving average of $65.28. The firm has a market capitalization of $1.17 billion, a P/E ratio of 14.89 and a beta of 0.73. The company has a current ratio of 3.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.33. Ingles Markets, Incorporated has a 52 week low of $58.92 and a 52 week high of $82.01.

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

Ingles Markets Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Thursday, April 10th were issued a $0.165 dividend. The ex-dividend date was Thursday, April 10th. This represents a $0.66 dividend on an annualized basis and a yield of 1.07%. Ingles Markets's payout ratio is presently 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.