Sei Investments Co. Increases Position in Ingles Markets, Incorporated $IMKTA

Sei Investments Co. raised its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTAFree Report) by 330.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,747 shares of the company’s stock after purchasing an additional 49,695 shares during the period. Sei Investments Co.’s holdings in Ingles Markets were worth $5,820,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Royal Bank of Canada grew its stake in shares of Ingles Markets by 15.4% in the 1st quarter. Royal Bank of Canada now owns 19,083 shares of the company’s stock worth $1,243,000 after buying an additional 2,544 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ingles Markets by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,617 shares of the company’s stock worth $561,000 after acquiring an additional 385 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Ingles Markets by 275.9% in the first quarter. Jane Street Group LLC now owns 30,644 shares of the company’s stock worth $1,996,000 after acquiring an additional 22,492 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Ingles Markets by 17.3% during the second quarter. Cetera Investment Advisers now owns 4,351 shares of the company’s stock valued at $276,000 after acquiring an additional 641 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Ingles Markets by 19.2% during the second quarter. Russell Investments Group Ltd. now owns 3,155 shares of the company’s stock valued at $200,000 after acquiring an additional 509 shares in the last quarter. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ingles Markets news, Director Dwight L. Jacobs bought 500 shares of the firm’s stock in a transaction 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 transaction, the director owned 500 shares in the company, valued at $44,035. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 22.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on IMKTA shares. Wall Street Zen cut shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Ingles Markets presently has an average rating of “Buy”.

Check Out Our Latest Research Report on Ingles Markets

Ingles Markets Stock Performance

IMKTA stock opened at $91.74 on Wednesday. The stock’s 50 day simple moving average is $89.78 and its 200 day simple moving average is $87.04. The company has a current ratio of 3.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.29. Ingles Markets, Incorporated has a 12-month low of $59.27 and a 12-month high of $95.62. The stock has a market capitalization of $1.74 billion, a PE ratio of 16.71 and a beta of 0.60.

Ingles Markets (NASDAQ:IMKTAGet Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter. The firm had revenue of $1.31 billion during the quarter. Ingles Markets had a return on equity of 6.41% and a net margin of 1.93%.

Ingles Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 9th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, July 9th. Ingles Markets’s dividend payout ratio (DPR) is presently 12.02%.

About Ingles Markets

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ingles Markets (NASDAQ:IMKTA)

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