AdvisorNet Financial Inc increased its position in the shares of Ingles Markets, Incorporated (NASDAQ: IMKTA – Get a rating) by 137.9% in the 1st quarter, HoldingsChannel.com reports. The fund held 690 shares of the company after buying an additional 400 shares during the quarter. AdvisorNet Financial Inc’s holdings in Ingles Markets were worth $61,000 when it last filed with the SEC.
Other institutional investors and hedge funds have also recently changed their positions in the company. Northwest Investment Counselors LLC acquired a new equity position from Ingles Markets during the fourth quarter worth $88,000. Advisor Group Holdings Inc. increased its holdings in Ingles Markets by 417.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,594 shares of the company worth $138,000 after purchasing an additional 1,286 shares during the period. HighTower Advisors LLC acquired a new stake in Ingles Markets in the fourth quarter worth approximately $205,000. Koss Olinger Consulting LLC acquired a new stake in Ingles Markets in the fourth quarter worth approximately $234,000. Finally, Teacher Retirement System of Texas acquired a new stake in Ingles Markets in the fourth quarter worth approximately $237,000. 65.29% of the shares are held by institutional investors.
IMKTA Stock opened at $87.65 on Friday. The company has a market capitalization of $1.66 billion, a P/E ratio of 5.98 and a beta of 0.52. The company has a 50-day simple moving average of $89.76 and a 200-day simple moving average of $87.92. Ingles Markets, Incorporated has a fifty-two week low of $56.95 and a fifty-two week high of $101.98. The company has a quick ratio of 1.05, a current ratio of 2.44 and a debt ratio of 0.50.
English markets (NASDAQ: IMKTA – Get a rating) last released its quarterly earnings data on Thursday, May 5. The company reported earnings per share of $3.61 for the quarter. Ingles Markets achieved a net margin of 5.18% and a return on equity of 27.49%. The company had revenue of $1.38 billion in the quarter.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 14. Shareholders of record on Thursday, July 7 will receive a dividend of $0.165. This represents an annualized dividend of $0.66 and a yield of 0.75%. The ex-dividend date is Wednesday, July 6. Ingles Markets’ dividend payout ratio (DPR) is currently 4.50%.
In other news Ingles Markets, Director Sharp Laura Ingle sold 500 shares of the company in a transaction dated Friday, June 24. The shares were sold at an average price of $88.10, for a total value of $44,050.00. Following the sale, the director now directly owns 5,500 shares of the company, valued at $484,550. The sale was disclosed in an SEC filing, which is available via this hyperlink. 23.80% of the shares are currently held by insiders.
Separately, StockNews.com began covering Ingles Markets stocks in a report on Thursday, March 31. They issued a “Strong Buy” rating for the company.
Profile of UK markets (Get a rating)
Ingles Markets, Incorporated operates a chain of supermarkets in the southeastern United States. It offers food items, including groceries, meat and dairy, fresh produce, frozen food, and other perishables; and non-food products, which include gas stations, drugstores, health and beauty care products and general merchandise, as well as private label items.
Receive daily news and reviews for Ingles Markets – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Ingles Markets and related companies with MarketBeat.com’s free daily email newsletter.