Connor Clark & Lunn Investment Management Ltd. Buys 7,274 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 16.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,120 shares of the company's stock after purchasing an additional 7,274 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.27% of Ingles Markets worth $3,294,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IMKTA. Raymond James Financial Inc. bought a new position in Ingles Markets during the fourth quarter worth about $3,559,000. Charles Schwab Investment Management Inc. boosted its position in shares of Ingles Markets by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,558 shares of the company's stock valued at $29,227,000 after acquiring an additional 48,000 shares during the period. Factorial Partners LLC bought a new position in shares of Ingles Markets in the third quarter valued at approximately $1,895,000. Barclays PLC boosted its position in shares of Ingles Markets by 346.2% in the third quarter. Barclays PLC now owns 23,689 shares of the company's stock valued at $1,768,000 after acquiring an additional 18,380 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Ingles Markets by 49.7% in the third quarter. JPMorgan Chase & Co. now owns 54,652 shares of the company's stock valued at $4,077,000 after acquiring an additional 18,141 shares during the period. Institutional investors own 62.54% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

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

Ingles Markets Price Performance

IMKTA traded down $1.41 on Friday, reaching $61.60. The company had a trading volume of 288,399 shares, compared to its average volume of 107,391. The business has a 50 day simple moving average of $63.97 and a 200 day simple moving average of $66.83. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 14.88 and a beta of 0.71. 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, Incorporated has a 52-week low of $58.92 and a 52-week high of $82.01.

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 firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, January 10th. Ingles Markets's dividend payout ratio (DPR) 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.