Graham Capital Management L.P. Purchases New Shares in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Graham Capital Management L.P. bought a new stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) during the fourth quarter, HoldingsChannel reports. The firm bought 11,665 shares of the company’s stock, valued at approximately $752,000.

A number of other hedge funds have also recently modified their holdings of IMKTA. Meeder Asset Management Inc. bought a new position in Ingles Markets in the 4th quarter worth about $30,000. Sterling Capital Management LLC boosted its stake in Ingles Markets by 811.8% in the 4th quarter. Sterling Capital Management LLC now owns 465 shares of the company’s stock worth $30,000 after purchasing an additional 414 shares in the last quarter. Anchor Investment Management LLC bought a new position in Ingles Markets in the 4th quarter worth about $64,000. Tower Research Capital LLC TRC boosted 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, FNY Investment Advisers LLC bought a new position in Ingles Markets in the 4th quarter worth about $96,000. Institutional investors own 62.54% of the company’s stock.

Ingles Markets Stock Performance

Shares of Ingles Markets stock opened at $61.80 on Thursday. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 14.93 and a beta of 0.73. The firm’s 50-day moving average is $62.72 and its 200 day moving average is $65.30. Ingles Markets, Incorporated has a 1 year low of $58.92 and a 1 year high of $82.01. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.24 and a quick ratio of 1.45.

Ingles Markets (NASDAQ:IMKTA) last posted its earnings results on Thursday, May 8th. The company reported $0.80 earnings per share (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 business also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, April 10th. Ingles Markets’s dividend payout ratio is currently 20.25%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Ingles Markets from a “hold” rating to a “buy” rating in a research note on Tuesday, May 6th.

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.