Ingles Markets, Incorporated (NASDAQ:IMKTA) Shares Bought by Brandes Investment Partners LP

Brandes Investment Partners LP raised its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 42.4% during the 4th quarter, HoldingsChannel reports. The firm owned 533,982 shares of the company’s stock after acquiring an additional 159,097 shares during the period. Brandes Investment Partners LP’s holdings in Ingles Markets were worth $34,410,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Systematic Financial Management LP boosted its position in Ingles Markets by 8.3% during the third quarter. Systematic Financial Management LP now owns 196,671 shares of the company’s stock worth $14,672,000 after purchasing an additional 15,107 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Ingles Markets by 33.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,846 shares of the company’s stock worth $3,271,000 after acquiring an additional 10,916 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Ingles Markets by 36.2% in the third quarter. Victory Capital Management Inc. now owns 47,901 shares of the company’s stock worth $3,573,000 after buying an additional 12,726 shares during the period. Barclays PLC boosted its position in shares of Ingles Markets by 346.2% in the third quarter. Barclays PLC now owns 23,689 shares of the company’s stock worth $1,768,000 after buying an additional 18,380 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Ingles Markets by 5.8% in the third quarter. Franklin Resources Inc. now owns 6,933 shares of the company’s stock worth $517,000 after buying an additional 378 shares during the period. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Ingles Markets Stock Down 0.3 %

Shares of Ingles Markets stock opened at $61.59 on Friday. The company has a current ratio of 3.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.33. The business’s 50 day simple moving average is $64.04 and its 200-day simple moving average is $67.14. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 14.88 and a beta of 0.71. Ingles Markets, Incorporated has a twelve month low of $58.92 and a twelve month high of $82.01.

Ingles Markets (NASDAQ:IMKTA) last posted 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were given a $0.165 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.66 annualized dividend and a dividend yield of 1.07%. Ingles Markets’s dividend payout ratio (DPR) is presently 15.94%.

Wall Street Analysts Forecast Growth

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

Ingles Markets Company Profile

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.