5,970 Shares in Ingles Markets, Incorporated (NASDAQ:IMKTA) Bought by Summit Global Investments

Summit Global Investments purchased a new stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,970 shares of the company’s stock, valued at approximately $385,000.

Other hedge funds also recently bought and sold shares of the company. River Road Asset Management LLC grew its stake in shares of Ingles Markets by 0.6% in the fourth quarter. River Road Asset Management LLC now owns 976,424 shares of the company’s stock worth $62,921,000 after acquiring an additional 5,398 shares during the last quarter. Brandes Investment Partners LP boosted its holdings in Ingles Markets by 42.4% in the 4th quarter. Brandes Investment Partners LP now owns 533,982 shares of the company’s stock valued at $34,410,000 after purchasing an additional 159,097 shares during the period. Charles Schwab Investment Management Inc. grew its position in Ingles Markets by 11.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 453,558 shares of the company’s stock worth $29,227,000 after purchasing an additional 48,000 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Ingles Markets by 3.7% during the third quarter. Geode Capital Management LLC now owns 399,190 shares of the company’s stock valued at $29,785,000 after buying an additional 14,264 shares during the last quarter. Finally, Systematic Financial Management LP raised its position in shares of Ingles Markets by 8.3% during the third quarter. Systematic Financial Management LP now owns 196,671 shares of the company’s stock valued at $14,672,000 after buying an additional 15,107 shares during the last quarter. 62.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered Ingles Markets from a “buy” rating to a “hold” rating in a research note on Monday, February 10th.

Ingles Markets Stock Up 0.2 %

IMKTA opened at $61.70 on Tuesday. The company has a market capitalization of $1.17 billion, a P/E ratio of 14.90 and a beta of 0.71. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.24 and a quick ratio of 1.45. The firm’s fifty day moving average price is $63.90 and its two-hundred day moving average price is $66.57. Ingles Markets, Incorporated has a fifty-two week low of $58.92 and a fifty-two week high of $82.01.

Ingles Markets (NASDAQ:IMKTA) last issued its earnings results on Thursday, February 6th. The company reported $0.87 earnings per share for the quarter. Ingles Markets had a net margin of 1.45% and a return on equity of 5.09%.

Ingles Markets Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were issued a $0.165 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.07%. Ingles Markets’s payout ratio is presently 15.94%.

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.