Ingles Markets, Incorporated (NASDAQ:IMKTA) Shares Purchased by Systematic Financial Management LP

Systematic Financial Management LP grew its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 8.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 196,671 shares of the company's stock after purchasing an additional 15,107 shares during the quarter. Systematic Financial Management LP owned approximately 1.04% of Ingles Markets worth $14,672,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of IMKTA. GAMMA Investing LLC lifted its stake in shares of Ingles Markets by 413.9% during the 3rd quarter. GAMMA Investing LLC now owns 406 shares of the company's stock worth $30,000 after purchasing an additional 327 shares during the last quarter. CWM LLC lifted its position in shares of Ingles Markets by 240.9% during the second quarter. CWM LLC now owns 433 shares of the company's stock valued at $30,000 after buying an additional 306 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Ingles Markets in the 2nd quarter valued at about $69,000. Signaturefd LLC grew its position in shares of Ingles Markets by 101.0% in the 2nd quarter. Signaturefd LLC now owns 1,003 shares of the company's stock worth $69,000 after buying an additional 504 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Ingles Markets during the 2nd quarter worth approximately $74,000. Hedge funds and other institutional investors own 62.54% of the company's stock.

Ingles Markets Stock Performance

NASDAQ IMKTA traded down $1.36 during mid-day trading on Friday, reaching $69.63. 105,258 shares of the stock were exchanged, compared to its average volume of 101,851. Ingles Markets, Incorporated has a 1 year low of $59.73 and a 1 year high of $89.59. The business's 50 day moving average is $67.50 and its 200-day moving average is $70.82. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 2.99. The company has a market capitalization of $1.32 billion, a P/E ratio of 8.29 and a beta of 0.74.

Ingles Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 10th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.66 annualized dividend and a yield of 0.95%. Ingles Markets's dividend payout ratio is presently 7.86%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Ingles Markets from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 21st.

Ingles Markets Company 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.