Geode Capital Management LLC Acquires 14,424 Shares of Ingles Markets, Incorporated $IMKTA

Geode Capital Management LLC boosted its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 427,194 shares of the company’s stock after buying an additional 14,424 shares during the quarter. Geode Capital Management LLC owned 2.25% of Ingles Markets worth $27,077,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Huntington National Bank raised its holdings in shares of Ingles Markets by 45,500.0% during the second quarter. Huntington National Bank now owns 456 shares of the company’s stock valued at $29,000 after purchasing an additional 455 shares during the last quarter. Signaturefd LLC grew its position in Ingles Markets by 82.5% in the 2nd quarter. Signaturefd LLC now owns 522 shares of the company’s stock worth $33,000 after purchasing an additional 236 shares during the period. First Horizon Advisors Inc. raised its stake in Ingles Markets by 192.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 632 shares of the company’s stock valued at $40,000 after buying an additional 416 shares during the last quarter. Summer Road LLC lifted its holdings in shares of Ingles Markets by 125.0% during the 1st quarter. Summer Road LLC now owns 1,800 shares of the company’s stock valued at $115,000 after buying an additional 1,000 shares during the period. Finally, Anchor Investment Management LLC boosted its stake in shares of Ingles Markets by 85.0% in the 1st quarter. Anchor Investment Management LLC now owns 1,850 shares of the company’s stock worth $120,000 after buying an additional 850 shares during the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Ingles Markets in a research report on Tuesday. Wall Street Zen raised shares of Ingles Markets from a “hold” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Ingles Markets Price Performance

NASDAQ IMKTA opened at $76.94 on Friday. The business’s fifty day moving average is $72.42 and its 200 day moving average is $67.33. Ingles Markets, Incorporated has a fifty-two week low of $58.92 and a fifty-two week high of $78.59. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.53 and a current ratio of 3.14. The company has a market capitalization of $1.46 billion, a PE ratio of 25.90 and a beta of 0.74.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings results on Wednesday, November 26th. The company reported $1.35 EPS for the quarter. Ingles Markets had a return on equity of 3.60% and a net margin of 1.05%.The business had revenue of $1.37 billion during the quarter.

Ingles Markets Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, October 9th. Ingles Markets’s dividend payout ratio is presently 15.00%.

Ingles Markets Profile

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.