Geode Capital Management LLC Boosts Holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Geode Capital Management LLC raised its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 411,436 shares of the company's stock after purchasing an additional 12,246 shares during the period. Geode Capital Management LLC owned 2.17% of Ingles Markets worth $26,518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IMKTA. Meeder Asset Management Inc. bought a new position in shares of Ingles Markets during the fourth quarter worth about $30,000. FNY Investment Advisers LLC bought a new position in Ingles Markets during the 4th quarter worth approximately $96,000. EntryPoint Capital LLC acquired a new position in shares of Ingles Markets in the 4th quarter worth approximately $204,000. Exchange Traded Concepts LLC boosted its stake in shares of Ingles Markets by 4.5% in 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 during the last quarter. Finally, 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 worth $291,000 after buying an additional 314 shares during the period. 62.54% of the stock is owned by institutional investors and hedge funds.

Ingles Markets Stock Up 2.5 %

NASDAQ:IMKTA traded up $1.57 on Monday, hitting $63.66. The stock had a trading volume of 122,130 shares, compared to its average volume of 116,883. The company has a market cap of $1.21 billion, a PE ratio of 15.38 and a beta of 0.75. Ingles Markets, Incorporated has a 52 week low of $58.92 and a 52 week high of $82.01. The business's fifty day moving average is $63.04 and its 200 day moving average is $65.33. The company has a quick ratio of 1.45, a current ratio of 3.24 and a debt-to-equity ratio of 0.33.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.87 earnings per share (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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Thursday, April 10th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.04%. The ex-dividend date was Thursday, April 10th. Ingles Markets's dividend payout ratio (DPR) is presently 15.94%.

Wall Street Analyst Weigh In

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

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.