Sanctuary Advisors LLC lifted its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA – Free Report) by 126.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,090 shares of the company’s stock after purchasing an additional 9,546 shares during the period. Sanctuary Advisors LLC’s holdings in Ingles Markets were worth $1,536,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised 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 in the last quarter. Brandes Investment Partners LP grew its position in shares of Ingles Markets by 4.0% in the 4th quarter. Brandes Investment Partners LP now owns 1,206,646 shares of the company’s stock worth $82,716,000 after acquiring an additional 46,269 shares in the last quarter. River Road Asset Management LLC grew its position in shares of Ingles Markets by 2.3% in the 4th quarter. River Road Asset Management LLC now owns 1,007,275 shares of the company’s stock worth $69,049,000 after acquiring an additional 22,979 shares in the last quarter. Summer Road LLC increased its holdings in shares of Ingles Markets by 17,247.1% in the 1st quarter. Summer Road LLC now owns 433,678 shares of the company’s stock valued at $38,983,000 after acquiring an additional 431,178 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Ingles Markets by 8.9% in the 4th quarter. State Street Corp now owns 400,759 shares of the company’s stock valued at $27,472,000 after acquiring an additional 32,834 shares during the last quarter. 62.54% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Weiss Ratings cut Ingles Markets from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Wall Street Zen lowered shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.
Insiders Place Their Bets
In related news, Director Dwight L. Jacobs acquired 500 shares of Ingles Markets stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $88.07 per share, with a total value of $44,035.00. Following the completion of the acquisition, the director directly owned 500 shares of the company’s stock, valued at $44,035. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.80% of the stock is owned by insiders.
Ingles Markets Trading Down 5.3%
NASDAQ:IMKTA opened at $84.88 on Friday. Ingles Markets, Incorporated has a 12-month low of $59.27 and a 12-month high of $95.62. The firm has a market capitalization of $1.61 billion, a P/E ratio of 15.46 and a beta of 0.61. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.34 and a quick ratio of 1.77. The business has a 50 day simple moving average of $89.38 and a 200 day simple moving average of $85.91.
Ingles Markets (NASDAQ:IMKTA – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter. The firm had revenue of $1.31 billion for the quarter. Ingles Markets had a net margin of 1.93% and a return on equity of 6.41%.
Ingles Markets Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 9th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, July 9th. Ingles Markets’s payout ratio is currently 12.02%.
Ingles Markets Company 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.
Featured Stories
- Five stocks we like better than Ingles Markets
- Premium Retail’s Stress Test Is Separating Winners From Losers
- D-Wave Quantum or a Quantum ETF: Which Is the Better Bet?
- GE Vernova Just Sent a Mixed AI Signal to Investors
- Alphabet Crushed Earnings, But One Number Spooked the Market
Want to see what other hedge funds are holding IMKTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingles Markets, Incorporated (NASDAQ:IMKTA – Free Report).
Receive News & Ratings for Ingles Markets Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingles Markets and related companies with MarketBeat.com's FREE daily email newsletter.
