Raymond James Financial Inc. Invests $3.56 Million in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Raymond James Financial Inc. bought a new stake in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 55,235 shares of the company's stock, valued at approximately $3,559,000. Raymond James Financial Inc. owned approximately 0.29% of Ingles Markets as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of IMKTA. Barclays PLC boosted its stake in shares of Ingles Markets by 346.2% in the 3rd quarter. Barclays PLC now owns 23,689 shares of the company's stock worth $1,768,000 after buying an additional 18,380 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Ingles Markets by 5.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,933 shares of the company's stock valued at $517,000 after purchasing an additional 378 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Ingles Markets by 49.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 54,652 shares of the company's stock valued at $4,077,000 after purchasing an additional 18,141 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Ingles Markets by 29.4% during the 3rd quarter. Jane Street Group LLC now owns 18,041 shares of the company's stock worth $1,346,000 after purchasing an additional 4,101 shares during the period. Finally, Polaris Capital Management LLC boosted its holdings in shares of Ingles Markets by 24.7% in the 4th quarter. Polaris Capital Management LLC now owns 32,800 shares of the company's stock worth $2,114,000 after buying an additional 6,500 shares during the last quarter. Institutional investors own 62.54% of the company's stock.

Ingles Markets Stock Performance

NASDAQ:IMKTA traded up $0.48 on Friday, reaching $62.40. 14,996 shares of the company's stock were exchanged, compared to its average volume of 118,469. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 15.07 and a beta of 0.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.24 and a quick ratio of 1.45. The stock has a fifty day simple moving average of $62.66 and a 200-day simple moving average of $65.33. 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, February 6th. The company reported $0.87 earnings per share 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 business also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Thursday, April 10th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, April 10th. Ingles Markets's payout ratio is presently 15.94%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Ingles Markets from a "hold" rating to a "buy" rating in a research note on Friday, April 25th.

Ingles Markets Company 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.