Allspring Global Investments Holdings LLC boosted its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA – Free Report) by 256.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,715 shares of the company’s stock after buying an additional 50,885 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.37% of Ingles Markets worth $5,845,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of IMKTA. Advisor Group Holdings Inc. increased its position in Ingles Markets by 16.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,852 shares of the company’s stock worth $166,000 after purchasing an additional 258 shares during the last quarter. Bank of New York Mellon Corp increased its position in Ingles Markets by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 128,661 shares of the company’s stock worth $11,456,000 after purchasing an additional 2,344 shares during the last quarter. US Bancorp DE increased its position in Ingles Markets by 13.3% in the 1st quarter. US Bancorp DE now owns 3,093 shares of the company’s stock worth $275,000 after purchasing an additional 362 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Ingles Markets by 278.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,930 shares of the company’s stock worth $171,000 after purchasing an additional 1,420 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in Ingles Markets by 58.0% in the 1st quarter. MetLife Investment Management LLC now owns 7,760 shares of the company’s stock worth $691,000 after purchasing an additional 2,849 shares during the last quarter. 62.58% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Ingles Markets
In related news, Director Sharp Laura Ingle sold 2,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $75.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now directly owns 75,700 shares of the company’s stock, valued at approximately $5,677,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 25,298 shares of company stock valued at $1,918,156. Corporate insiders own 31.90% of the company’s stock.
Analyst Upgrades and Downgrades
Ingles Markets Price Performance
Shares of IMKTA stock opened at $80.84 on Friday. The stock has a 50 day moving average of $77.63 and a two-hundred day moving average of $82.06. The company has a current ratio of 2.86, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. Ingles Markets, Incorporated has a 12 month low of $73.38 and a 12 month high of $102.99. The company has a market capitalization of $1.54 billion, a P/E ratio of 6.73 and a beta of 0.66.
Ingles Markets (NASDAQ:IMKTA – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $2.54 EPS for the quarter. Ingles Markets had a return on equity of 17.07% and a net margin of 3.96%. The company had revenue of $1.43 billion during the quarter.
Ingles Markets Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, October 19th. Stockholders of record on Thursday, October 12th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, October 11th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.82%. Ingles Markets’s payout ratio is presently 5.50%.
Ingles Markets Company 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.
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