Northern Trust Corp Buys 7,520 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Northern Trust Corp grew its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 187,100 shares of the company’s stock after purchasing an additional 7,520 shares during the quarter. Northern Trust Corp owned approximately 0.99% of Ingles Markets worth $12,057,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in shares of Ingles Markets in the fourth quarter valued at approximately $30,000. Sterling Capital Management LLC raised its holdings in shares of Ingles Markets by 811.8% in the fourth quarter. Sterling Capital Management LLC now owns 465 shares of the company’s stock valued at $30,000 after purchasing an additional 414 shares during the last quarter. Anchor Investment Management LLC acquired a new stake in shares of Ingles Markets in the fourth quarter valued at approximately $64,000. Tower Research Capital LLC TRC raised its holdings in shares of Ingles Markets by 296.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,252 shares of the company’s stock valued at $81,000 after purchasing an additional 936 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Ingles Markets in the fourth quarter valued at approximately $204,000. Institutional investors own 62.54% of the company’s stock.

Ingles Markets Price Performance

NASDAQ:IMKTA opened at $62.82 on Friday. Ingles Markets, Incorporated has a 1-year low of $58.92 and a 1-year high of $82.01. 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 firm has a fifty day simple moving average of $62.67 and a 200 day simple moving average of $65.28. The stock has a market capitalization of $1.19 billion, a PE ratio of 15.17 and a beta of 0.73.

Ingles Markets (NASDAQ:IMKTA) last released its earnings results on Thursday, May 8th. The company reported $0.80 earnings per share for the quarter. Ingles Markets had a net margin of 1.45% and a return on equity of 5.09%.

Ingles Markets Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Thursday, April 10th were paid a $0.165 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $0.66 annualized dividend and a dividend yield of 1.05%. Ingles Markets’s dividend payout ratio is presently 20.25%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Ingles Markets from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th.

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.