Odyssean LLC acquired a new position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA – Free Report) in the 2nd quarter, HoldingsChannel reports. The firm acquired 11,530 shares of the company’s stock, valued at approximately $1,021,000.
A number of other institutional investors also recently modified their holdings of IMKTA. Royal Bank of Canada raised its position in Ingles Markets by 15.4% in the 1st quarter. Royal Bank of Canada now owns 19,083 shares of the company’s stock valued at $1,243,000 after purchasing an additional 2,544 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Ingles Markets by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,617 shares of the company’s stock valued at $561,000 after acquiring an additional 385 shares during the period. Jane Street Group LLC boosted its holdings in Ingles Markets by 275.9% in the first quarter. Jane Street Group LLC now owns 30,644 shares of the company’s stock valued at $1,996,000 after acquiring an additional 22,492 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Ingles Markets by 17.3% in 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 during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Ingles Markets by 19.2% in the second quarter. Russell Investments Group Ltd. now owns 3,155 shares of the company’s stock worth $200,000 after purchasing an additional 509 shares during the period. Institutional investors own 62.54% of the company’s stock.
Analyst Upgrades and Downgrades
IMKTA has been the topic of a number of research reports. Wall Street Zen downgraded shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded shares of Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.
Ingles Markets Trading Down 1.4%
NASDAQ:IMKTA opened at $83.54 on Thursday. The company has a current ratio of 3.21, a quick ratio of 1.75 and a debt-to-equity ratio of 0.29. Ingles Markets, Incorporated has a 1-year low of $66.41 and a 1-year high of $95.62. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 15.27 and a beta of 0.60. The business’s 50-day moving average price is $88.59 and its two-hundred day moving average price is $88.38.
Ingles Markets (NASDAQ:IMKTA – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.36 EPS for the quarter. The company had revenue of $1.37 billion during the quarter. Ingles Markets had a return on equity of 6.30% and a net margin of 1.92%.
Ingles Markets Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 9th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 9th. Ingles Markets’s dividend payout ratio is presently 12.07%.
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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