30,904 Shares in Ingles Markets, Incorporated (NASDAQ:IMKTA) Acquired by Ballast Asset Management LP

Ballast Asset Management LP acquired a new stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,904 shares of the company's stock, valued at approximately $1,991,000. Ballast Asset Management LP owned about 0.16% of Ingles Markets at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of IMKTA. Avidian Wealth Enterprises LLC boosted its holdings in Ingles Markets by 2.1% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 7,443 shares of the company's stock valued at $480,000 after acquiring an additional 150 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Ingles Markets by 4.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,369 shares of the company's stock valued at $282,000 after purchasing an additional 187 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Ingles Markets by 7.5% during the fourth quarter. Ballentine Partners LLC now owns 4,523 shares of the company's stock valued at $291,000 after buying an additional 314 shares during the period. Franklin Resources Inc. increased its position in shares of Ingles Markets by 5.8% during the third quarter. Franklin Resources Inc. now owns 6,933 shares of the company's stock valued at $517,000 after buying an additional 378 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in Ingles Markets in the fourth quarter worth about $30,000. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

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

Ingles Markets Stock Down 0.7 %

Shares of Ingles Markets stock traded down $0.43 during trading on Friday, hitting $62.12. The company's stock had a trading volume of 182,934 shares, compared to its average volume of 113,913. Ingles Markets, Incorporated has a 52 week low of $58.92 and a 52 week high of $82.01. The company has a market capitalization of $1.18 billion, a PE ratio of 15.00 and a beta of 0.75. The company has a fifty day simple moving average of $63.85 and a two-hundred day simple moving average of $66.06. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.45 and a current ratio of 3.24.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last announced 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 10th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, April 10th. Ingles Markets's dividend payout ratio (DPR) is 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.