Sterling Capital Management LLC Buys 414 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Sterling Capital Management LLC boosted its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 811.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 465 shares of the company’s stock after buying an additional 414 shares during the period. Sterling Capital Management LLC’s holdings in Ingles Markets were worth $30,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in IMKTA. Raymond James Financial Inc. bought a new position in shares of Ingles Markets in the fourth quarter worth approximately $3,559,000. Martingale Asset Management L P lifted its position in Ingles Markets by 78.0% in the 4th quarter. Martingale Asset Management L P now owns 35,394 shares of the company’s stock valued at $2,281,000 after acquiring an additional 15,509 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Ingles Markets by 29.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 7,335 shares of the company’s stock valued at $473,000 after purchasing an additional 1,664 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Ingles Markets by 0.3% in the 4th quarter. Wells Fargo & Company MN now owns 61,502 shares of the company’s stock worth $3,963,000 after purchasing an additional 184 shares in the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Ingles Markets in the 4th quarter worth $210,000. 62.54% of the stock is owned by institutional investors.

Ingles Markets Stock Performance

Shares of NASDAQ IMKTA opened at $61.12 on Friday. 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 price is $62.88 and its 200-day moving average price is $65.33. Ingles Markets, Incorporated has a 52-week low of $58.92 and a 52-week high of $82.01. The company has a market cap of $1.16 billion, a PE ratio of 14.76 and a beta of 0.75.

Ingles Markets (NASDAQ:IMKTA) last posted its earnings results on Thursday, February 6th. The company reported $0.87 EPS for the quarter. Ingles Markets had a net margin of 1.45% and a return on equity of 5.09%.

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. This represents a $0.66 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, April 10th. Ingles Markets’s dividend payout ratio is 15.94%.

Analyst Ratings Changes

Separately, StockNews.com raised Ingles Markets from a “hold” rating to a “buy” rating in a research report on Friday.

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.