Denali Advisors LLC Acquires 3,400 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Denali Advisors LLC lifted its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,708 shares of the company’s stock after purchasing an additional 3,400 shares during the quarter. Denali Advisors LLC’s holdings in Ingles Markets were worth $6,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. River Road Asset Management LLC boosted its holdings in Ingles Markets by 7.1% in the third quarter. River Road Asset Management LLC now owns 971,026 shares of the company’s stock worth $72,439,000 after purchasing an additional 64,296 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Ingles Markets by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,558 shares of the company’s stock worth $30,255,000 after buying an additional 31,027 shares during the last quarter. Factorial Partners LLC bought a new stake in shares of Ingles Markets in the third quarter worth $1,895,000. Barclays PLC increased its position in Ingles Markets by 346.2% during the third quarter. Barclays PLC now owns 23,689 shares of the company’s stock valued at $1,768,000 after acquiring an additional 18,380 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Ingles Markets by 49.7% in the third quarter. JPMorgan Chase & Co. now owns 54,652 shares of the company’s stock valued at $4,077,000 after acquiring an additional 18,141 shares during the period. 62.54% of the stock is owned by institutional investors.

Ingles Markets Stock Up 0.9 %

Shares of IMKTA stock opened at $64.72 on Wednesday. The company has a current ratio of 3.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.33. Ingles Markets, Incorporated has a 12 month low of $59.73 and a 12 month high of $82.01. The stock has a market cap of $1.23 billion, a P/E ratio of 15.63 and a beta of 0.75. The company has a 50 day simple moving average of $65.02 and a two-hundred day simple moving average of $68.06.

Ingles Markets (NASDAQ:IMKTA) last announced its earnings results on Thursday, February 6th. The company reported $0.87 EPS for the quarter. Ingles Markets had a return on equity of 5.09% and a net margin of 1.45%.

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.02%. Ingles Markets’s payout ratio is currently 15.94%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Ingles Markets from a “buy” rating to a “hold” rating in a research note on Monday, February 10th.

About Ingles Markets

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.