Foundry Partners LLC lifted its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA – Free Report) by 14.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,007 shares of the company’s stock after buying an additional 8,114 shares during the quarter. Foundry Partners LLC owned approximately 0.34% of Ingles Markets worth $5,373,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp acquired a new position in Ingles Markets in the 1st quarter valued at about $32,000. WealthPLAN Partners LLC acquired a new position in Ingles Markets in the 1st quarter valued at about $36,000. Ensign Peak Advisors Inc acquired a new position in Ingles Markets in the 3rd quarter valued at about $35,000. Trivant Custom Portfolio Group LLC acquired a new position in Ingles Markets in the 1st quarter valued at about $44,000. Finally, Penserra Capital Management LLC acquired a new position in Ingles Markets in the 1st quarter valued at about $45,000. Institutional investors and hedge funds own 62.58% of the company’s stock.
Ingles Markets Trading Down 1.1 %
Shares of IMKTA stock opened at $75.01 on Wednesday. The company has a current ratio of 2.86, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 6.25 and a beta of 0.67. The firm has a 50-day moving average price of $80.93 and a 200 day moving average price of $84.65. Ingles Markets, Incorporated has a twelve month low of $73.38 and a twelve month high of $102.99.
Ingles Markets (NASDAQ:IMKTA – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $2.54 EPS for the quarter. The company had revenue of $1.43 billion during the quarter. Ingles Markets had a return on equity of 17.07% and a net margin of 3.96%.
Ingles Markets Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 13th. Shareholders of record on Thursday, July 6th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Wednesday, July 5th. Ingles Markets’s dividend payout ratio (DPR) is 5.50%.
Insider Buying and Selling at Ingles Markets
In other Ingles Markets news, Director Sharp Laura Ingle sold 2,000 shares of Ingles Markets stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $75.00, for a total value of $150,000.00. Following the completion of the sale, the director now owns 75,700 shares in the company, valued at approximately $5,677,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 15,000 shares of company stock worth $1,139,200 in the last 90 days. 31.90% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised shares of Ingles Markets from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 8th.
Ingles Markets Profile
Ingles Markets, Incorporated 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.