Brandes Investment Partners LP Buys 159,097 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Brandes Investment Partners LP increased its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 42.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 533,982 shares of the company's stock after purchasing an additional 159,097 shares during the quarter. Brandes Investment Partners LP owned approximately 2.81% of Ingles Markets worth $34,410,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. FNY Investment Advisers LLC bought a new position in Ingles Markets during the fourth quarter valued at approximately $96,000. Caprock Group LLC bought a new position in Ingles Markets during the third quarter valued at approximately $203,000. Captrust Financial Advisors bought a new position in shares of Ingles Markets in the third quarter valued at approximately $206,000. Intech Investment Management LLC bought a new position in shares of Ingles Markets in the third quarter valued at approximately $266,000. Finally, Virtu Financial LLC bought a new position in shares of Ingles Markets in the third quarter valued at approximately $318,000. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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Ingles Markets Stock Performance

Shares of NASDAQ:IMKTA traded up $0.58 during trading on Wednesday, reaching $62.89. The stock had a trading volume of 84,109 shares, compared to its average volume of 106,528. Ingles Markets, Incorporated has a 52 week low of $58.92 and a 52 week high of $82.01. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 15.19 and a beta of 0.71. The company has a quick ratio of 1.45, a current ratio of 3.24 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $64.01 and a two-hundred day simple moving average of $66.89.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last released its quarterly 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Friday, January 10th. Ingles Markets's dividend payout ratio (DPR) is currently 15.94%.

About Ingles Markets

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.