JPMorgan Chase & Co. Buys 12,213 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

JPMorgan Chase & Co. grew its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 22.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,865 shares of the company's stock after acquiring an additional 12,213 shares during the quarter. JPMorgan Chase & Co. owned 0.35% of Ingles Markets worth $4,309,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in Ingles Markets in the fourth quarter valued at about $96,000. EntryPoint Capital LLC acquired a new position in shares of Ingles Markets in the 4th quarter valued at approximately $204,000. Exchange Traded Concepts LLC increased its stake in Ingles Markets by 4.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,369 shares of the company's stock worth $282,000 after purchasing an additional 187 shares in the last quarter. Ballentine Partners LLC raised its holdings in Ingles Markets by 7.5% during the 4th 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. Finally, Virtu Financial LLC acquired a new stake in Ingles Markets during the 3rd quarter worth approximately $318,000. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Ingles Markets Stock Performance

Shares of Ingles Markets stock opened at $62.09 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.24 and a quick ratio of 1.45. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 15.00 and a beta of 0.75. The stock's 50-day moving average is $63.04 and its 200-day moving average is $65.32. Ingles Markets, Incorporated has a one year low of $58.92 and a one year high of $82.01.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.87 EPS for the quarter. Ingles Markets had a return on equity of 5.09% and a net margin of 1.45%.

Ingles Markets Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Thursday, April 10th were paid a $0.165 dividend. The ex-dividend date was Thursday, April 10th. This represents a $0.66 annualized dividend and a yield of 1.06%. Ingles Markets's payout ratio is currently 15.94%.

Analyst Ratings Changes

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

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.

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