Exchange Traded Concepts LLC increased its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA – Free Report) by 7.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,421 shares of the company’s stock after purchasing an additional 309 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Ingles Markets were worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Foundry Partners LLC purchased a new stake in Ingles Markets in the first quarter worth about $5,046,000. Allspring Global Investments Holdings LLC lifted its holdings in Ingles Markets by 256.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 70,715 shares of the company’s stock worth $5,845,000 after buying an additional 50,885 shares during the period. Renaissance Technologies LLC lifted its holdings in Ingles Markets by 20.5% in the first quarter. Renaissance Technologies LLC now owns 252,858 shares of the company’s stock worth $22,517,000 after buying an additional 43,074 shares during the period. Bank of America Corp DE lifted its holdings in Ingles Markets by 223.4% in the fourth quarter. Bank of America Corp DE now owns 57,885 shares of the company’s stock worth $5,584,000 after buying an additional 39,987 shares during the period. Finally, BlackRock Inc. lifted its holdings in Ingles Markets by 3.8% in the first quarter. BlackRock Inc. now owns 1,101,696 shares of the company’s stock worth $97,720,000 after buying an additional 39,930 shares during the period. 62.58% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd.
Insider Activity
In other news, Director Sharp Laura Ingle sold 1,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $83.00, for a total transaction of $83,000.00. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $83,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 25,298 shares of company stock valued at $1,918,156 in the last 90 days. Company insiders own 31.90% of the company’s stock.
Ingles Markets Price Performance
Shares of IMKTA opened at $77.80 on Friday. The company has a market capitalization of $1.48 billion, a P/E ratio of 6.48 and a beta of 0.68. The company has a quick ratio of 1.32, a current ratio of 2.86 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $79.08 and a 200 day moving average of $83.35. Ingles Markets, Incorporated has a twelve month low of $73.38 and a twelve month high of $102.99.
Ingles Markets (NASDAQ:IMKTA – Get Free Report) last posted its earnings results on Thursday, August 3rd. The company reported $2.54 EPS for the quarter. Ingles Markets had a net margin of 3.96% and a return on equity of 17.07%. The business had revenue of $1.43 billion during the quarter.
Ingles Markets Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Thursday, October 12th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Wednesday, October 11th. Ingles Markets’s payout ratio is 5.50%.
About Ingles Markets
Ingles Markets, Incorporated 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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