Ingles Markets, Incorporated (NASDAQ:IMKTA) Stake Boosted by Strs Ohio

Strs Ohio increased its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA – Get Rating) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,800 shares of the company’s stock after purchasing an additional 400 shares during the quarter. Strs Ohio owned 0.05% of Ingles Markets worth $776,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. increased its position in Ingles Markets by 16.2% in the first quarter. Advisor Group Holdings Inc. now owns 1,852 shares of the company’s stock worth $166,000 after buying an additional 258 shares during the period. Bank of New York Mellon Corp increased its position in Ingles Markets by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 128,661 shares of the company’s stock worth $11,456,000 after buying an additional 2,344 shares during the period. US Bancorp DE increased its position in Ingles Markets by 13.3% in the first quarter. US Bancorp DE now owns 3,093 shares of the company’s stock worth $275,000 after buying an additional 362 shares during the period. PNC Financial Services Group Inc. increased its position in Ingles Markets by 278.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,930 shares of the company’s stock worth $171,000 after buying an additional 1,420 shares during the period. Finally, MetLife Investment Management LLC increased its position in Ingles Markets by 58.0% in the first quarter. MetLife Investment Management LLC now owns 7,760 shares of the company’s stock worth $691,000 after buying an additional 2,849 shares during the period. 62.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Ingles Markets in a research report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock.

Insider Activity

In related news, Director Sharp Laura Ingle sold 2,000 shares of Ingles Markets stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $100.71, for a total transaction of $201,420.00. Following the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at $352,485. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 31.90% of the company’s stock.

Ingles Markets Price Performance

Shares of NASDAQ IMKTA opened at $97.37 on Tuesday. The firm has a market capitalization of $1.85 billion, a PE ratio of 6.79 and a beta of 0.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.51 and a quick ratio of 1.14. Ingles Markets, Incorporated has a 1-year low of $74.63 and a 1-year high of $102.99. The business’s fifty day moving average price is $97.47 and its two-hundred day moving average price is $92.70.

Ingles Markets (NASDAQ:IMKTA – Get Rating) last issued its quarterly earnings results on Wednesday, November 23rd. The company reported $3.69 EPS for the quarter. The company had revenue of $1.45 billion for the quarter. Ingles Markets had a return on equity of 23.63% and a net margin of 4.80%.

Ingles Markets Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 12th. Stockholders of record on Friday, January 6th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Thursday, January 5th. Ingles Markets’s dividend payout ratio (DPR) is 4.60%.

About Ingles Markets

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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.