Charles Schwab Investment Management Inc. decreased its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA – Free Report) by 2.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 481,771 shares of the company’s stock after selling 12,980 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Ingles Markets were worth $33,025,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Ingles Markets by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 1,300,136 shares of the company’s stock valued at $89,124,000 after buying an additional 20,189 shares during the period. Brandes Investment Partners LP lifted its stake in Ingles Markets by 4.0% during the fourth quarter. Brandes Investment Partners LP now owns 1,206,646 shares of the company’s stock worth $82,716,000 after purchasing an additional 46,269 shares during the last quarter. American Century Companies Inc. lifted its stake in Ingles Markets by 4.5% during the third quarter. American Century Companies Inc. now owns 561,306 shares of the company’s stock worth $39,045,000 after purchasing an additional 24,406 shares during the last quarter. State Street Corp lifted its stake in Ingles Markets by 8.9% during the fourth quarter. State Street Corp now owns 400,759 shares of the company’s stock worth $27,472,000 after purchasing an additional 32,834 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Ingles Markets by 24.5% during the third quarter. Allianz Asset Management GmbH now owns 188,964 shares of the company’s stock worth $13,144,000 after purchasing an additional 37,194 shares during the last quarter. Institutional investors own 62.54% of the company’s stock.
Ingles Markets Trading Up 0.1%
Shares of IMKTA stock opened at $86.16 on Friday. The company has a quick ratio of 1.69, a current ratio of 3.34 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $88.40 and a two-hundred day moving average price of $80.09. Ingles Markets, Incorporated has a 12-month low of $59.09 and a 12-month high of $95.62. The firm has a market cap of $1.64 billion, a P/E ratio of 15.69 and a beta of 0.62.
Ingles Markets Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, April 9th. Ingles Markets’s payout ratio is 12.02%.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. Weiss Ratings raised Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Wall Street Zen lowered Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy”.
View Our Latest Stock Analysis on Ingles Markets
Ingles Markets Profile
Ingles Markets, Inc (NASDAQ: IMKTA) is a family‐owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.
In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.
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