Allianz Asset Management GmbH Increases Stake in Ingles Markets, Incorporated $IMKTA

Allianz Asset Management GmbH boosted its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 24.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 188,964 shares of the company’s stock after acquiring an additional 37,194 shares during the period. Allianz Asset Management GmbH owned 0.99% of Ingles Markets worth $13,144,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank increased its stake in shares of Ingles Markets by 45,500.0% in the second quarter. Huntington National Bank now owns 456 shares of the company’s stock worth $29,000 after purchasing an additional 455 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Ingles Markets in the 3rd quarter valued at approximately $38,000. First Horizon Advisors Inc. grew its stake in Ingles Markets by 192.6% in 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 in the last quarter. Jones Financial Companies Lllp raised its holdings in Ingles Markets by 254.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,131 shares of the company’s stock valued at $78,000 after acquiring an additional 812 shares during the period. Finally, CWM LLC lifted its position in shares of Ingles Markets by 221.6% during the third quarter. CWM LLC now owns 1,177 shares of the company’s stock worth $82,000 after acquiring an additional 811 shares in the last quarter. 62.54% of the stock is owned by hedge funds and other institutional investors.

Ingles Markets Price Performance

NASDAQ:IMKTA opened at $84.90 on Friday. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 16.95 and a beta of 0.77. Ingles Markets, Incorporated has a 52-week low of $58.92 and a 52-week high of $85.53. The stock has a fifty day moving average of $72.59 and a 200 day moving average of $70.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.63 and a current ratio of 3.22.

Ingles Markets (NASDAQ:IMKTA) last announced its earnings results on Thursday, February 5th. The company reported $1.48 earnings per share for the quarter. Ingles Markets had a return on equity of 5.97% and a net margin of 1.76%.The business had revenue of $1.37 billion for the quarter.

Ingles Markets Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Thursday, January 8th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, January 8th. Ingles Markets’s dividend payout ratio (DPR) is currently 15.00%.

Wall Street Analyst Weigh In

IMKTA has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ingles Markets in a research report on Monday, December 29th. Wall Street Zen upgraded Ingles Markets from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Ingles Markets Company 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.