Summit Global Investments Buys Shares of 5,970 Ingles Markets, Incorporated (NASDAQ:IMKTA)

Summit Global Investments acquired a new stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,970 shares of the company's stock, valued at approximately $385,000.

Other hedge funds also recently made changes to their positions in the company. Brandes Investment Partners LP increased its position in Ingles Markets by 42.4% during the fourth quarter. Brandes Investment Partners LP now owns 533,982 shares of the company's stock worth $34,410,000 after buying an additional 159,097 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Ingles Markets during the 4th quarter valued at $3,559,000. Charles Schwab Investment Management Inc. increased its position in Ingles Markets by 11.8% in the fourth 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 period. Teacher Retirement System of Texas lifted its stake in Ingles Markets by 62.4% in the fourth quarter. Teacher Retirement System of Texas now owns 119,748 shares of the company's stock valued at $7,717,000 after buying an additional 46,025 shares during the period. Finally, Barclays PLC grew its holdings in shares of Ingles Markets by 346.2% in the 3rd quarter. Barclays PLC now owns 23,689 shares of the company's stock valued at $1,768,000 after buying an additional 18,380 shares during the period. Institutional investors and hedge funds own 62.54% of the company's stock.

Ingles Markets Stock Performance

Ingles Markets stock traded down $0.77 during mid-day trading on Friday, hitting $63.79. 79,239 shares of the company's stock traded hands, compared to its average volume of 112,655. Ingles Markets, Incorporated has a fifty-two week low of $58.92 and a fifty-two week high of $82.01. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 15.41 and a beta of 0.71. The firm has a 50 day simple moving average of $63.84 and a two-hundred day simple moving average of $66.46. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.24 and a quick ratio of 1.45.

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

Ingles Markets Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a dividend of $0.165 per share. The ex-dividend date was Friday, January 10th. This represents a $0.66 annualized dividend and a yield of 1.03%. Ingles Markets's payout ratio is currently 15.94%.

Analyst Ratings Changes

Separately, StockNews.com cut Ingles Markets from a "buy" rating to a "hold" rating in a report on Monday, February 10th.

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.