Allianz Asset Management GmbH Purchases 3,993 Shares of Ingles Markets, Incorporated $IMKTA

Allianz Asset Management GmbH boosted its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 2.7% in the second quarter, HoldingsChannel.com reports. The firm owned 151,770 shares of the company’s stock after acquiring an additional 3,993 shares during the period. Allianz Asset Management GmbH’s holdings in Ingles Markets were worth $9,619,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Ingles Markets by 122.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 72,964 shares of the company’s stock worth $4,819,000 after purchasing an additional 40,164 shares in the last quarter. DMC Group LLC raised its holdings in Ingles Markets by 15.6% in the second quarter. DMC Group LLC now owns 4,245 shares of the company’s stock worth $269,000 after purchasing an additional 574 shares in the last quarter. Signaturefd LLC raised its holdings in Ingles Markets by 82.5% in the second quarter. Signaturefd LLC now owns 522 shares of the company’s stock worth $33,000 after purchasing an additional 236 shares in the last quarter. Significant Wealth Partners LLC raised its holdings in Ingles Markets by 2.8% in the second quarter. Significant Wealth Partners LLC now owns 7,390 shares of the company’s stock worth $468,000 after purchasing an additional 204 shares in the last quarter. Finally, Ballentine Partners LLC bought a new position in Ingles Markets in the second quarter worth about $344,000. 62.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Ingles Markets in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Ingles Markets has an average rating of “Hold”.

Ingles Markets Stock Performance

IMKTA opened at $72.64 on Wednesday. Ingles Markets, Incorporated has a 52-week low of $58.92 and a 52-week high of $75.63. The company has a quick ratio of 1.53, a current ratio of 3.14 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.38 billion, a P/E ratio of 24.46 and a beta of 0.75. The firm’s 50-day moving average price is $69.36 and its 200-day moving average price is $65.22.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.38 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 1.05% and a return on equity of 3.60%.

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Thursday, October 9th were issued a dividend of $0.165 per share. The ex-dividend date was Thursday, October 9th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. Ingles Markets’s dividend payout ratio is 22.22%.

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.