Martingale Asset Management L P Acquires 15,509 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Martingale Asset Management L P lifted its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 78.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,394 shares of the company's stock after purchasing an additional 15,509 shares during the quarter. Martingale Asset Management L P owned about 0.19% of Ingles Markets worth $2,281,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in Ingles Markets in the fourth quarter valued at $30,000. FNY Investment Advisers LLC purchased a new stake in Ingles Markets during the fourth quarter worth approximately $96,000. EntryPoint Capital LLC acquired a new position in Ingles Markets in the 4th quarter worth $204,000. Captrust Financial Advisors acquired a new stake in Ingles Markets in the third quarter valued at $206,000. Finally, ExodusPoint Capital Management LP acquired a new stake in Ingles Markets during the fourth quarter valued at approximately $210,000. Hedge funds and other institutional investors own 62.54% of the company's stock.

Wall Street Analyst Weigh In

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

Ingles Markets Stock Up 0.7 %

Shares of IMKTA traded up $0.40 during mid-day trading on Wednesday, reaching $61.91. The company's stock had a trading volume of 15,875 shares, compared to its average volume of 115,811. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 14.95 and a beta of 0.75. 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 business has a fifty day moving average of $63.22 and a 200 day moving average of $65.49. Ingles Markets, Incorporated has a 1 year low of $58.92 and a 1 year high of $82.01.

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

Ingles Markets Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 10th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, April 10th. Ingles Markets's payout ratio is 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.