Cetera Investment Advisers Invests $242,000 in Ingles Markets, Incorporated $IMKTA

Cetera Investment Advisers purchased a new stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,710 shares of the company’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LPL Financial LLC increased its position in shares of Ingles Markets by 48.6% during the 4th quarter. LPL Financial LLC now owns 9,502 shares of the company’s stock valued at $612,000 after purchasing an additional 3,108 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Ingles Markets by 29.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 7,335 shares of the company’s stock valued at $473,000 after acquiring an additional 1,664 shares in the last quarter. Raymond James Financial Inc. bought a new position in Ingles Markets in the 4th quarter valued at approximately $3,559,000. Sterling Capital Management LLC boosted its holdings in Ingles Markets by 811.8% in the fourth quarter. Sterling Capital Management LLC now owns 465 shares of the company’s stock worth $30,000 after purchasing an additional 414 shares during the last quarter. Finally, Barclays PLC raised its position in Ingles Markets by 67.2% in the fourth quarter. Barclays PLC now owns 39,615 shares of the company’s stock worth $2,553,000 after acquiring an additional 15,926 shares during the period. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Ingles Markets from a “hold” rating to a “buy” rating in a research report on Tuesday, May 6th.

Ingles Markets Stock Up 0.6%

NASDAQ:IMKTA opened at $65.48 on Friday. The firm has a market cap of $1.24 billion, a PE ratio of 22.05 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.14 and a quick ratio of 1.53. The company has a 50-day moving average of $64.32 and a 200 day moving average of $63.25. Ingles Markets, Incorporated has a 1-year low of $58.92 and a 1-year high of $75.63.

Ingles Markets (NASDAQ:IMKTA) last announced its earnings results on Thursday, August 7th. The company reported $1.38 EPS for the quarter. Ingles Markets had a net margin of 1.05% and a return on equity of 3.60%.

Ingles Markets Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Thursday, July 10th were paid a dividend of $0.165 per share. The ex-dividend date was Thursday, July 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. Ingles Markets’s payout ratio is presently 22.22%.

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.