American Century Companies Inc. Boosts Stake in Ingles Markets, Incorporated $IMKTA

American Century Companies Inc. boosted its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 4.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 561,306 shares of the company’s stock after purchasing an additional 24,406 shares during the quarter. American Century Companies Inc. owned approximately 2.96% of Ingles Markets worth $39,045,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its stake in Ingles Markets by 3.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,817 shares of the company’s stock valued at $272,000 after buying an additional 144 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Ingles Markets by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 5,163 shares of the company’s stock valued at $327,000 after acquiring an additional 209 shares during the period. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Ingles Markets by 7.4% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,135 shares of the company’s stock valued at $199,000 after purchasing an additional 215 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Ingles Markets by 2.9% during the second quarter. Envestnet Asset Management Inc. now owns 9,002 shares of the company’s stock valued at $571,000 after purchasing an additional 257 shares during the last quarter. Finally, Ballast Asset Management LP raised its position in shares of Ingles Markets by 1.0% during the 2nd quarter. Ballast Asset Management LP now owns 31,669 shares of the company’s stock worth $2,007,000 after purchasing an additional 306 shares during the period. 62.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Ingles Markets from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ingles Markets in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Ingles Markets presently has an average rating of “Hold”.

Ingles Markets Trading Up 1.9%

Ingles Markets stock opened at $85.38 on Friday. Ingles Markets, Incorporated has a 12 month low of $59.09 and a 12 month high of $90.49. The company has a quick ratio of 1.69, a current ratio of 3.36 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.62 billion, a P/E ratio of 17.04 and a beta of 0.74. The company’s fifty day simple moving average is $78.21 and its 200-day simple moving average is $73.81.

Ingles Markets (NASDAQ:IMKTA) last issued its earnings results on Thursday, February 5th. The company reported $1.48 EPS for the quarter. Ingles Markets had a return on equity of 5.93% and a net margin of 1.76%.The firm had revenue of $1.37 billion for the quarter.

Ingles Markets Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Thursday, January 8th were paid a $0.165 dividend. The ex-dividend date of this dividend was Thursday, January 8th. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. Ingles Markets’s payout ratio is presently 13.17%.

Ingles Markets Profile

Ingles Markets, Inc (NASDAQ: IMKTA) is a family‐owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.

In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.