Ingles Markets, Incorporated (NASDAQ:IMKTA) Shares Bought by River Road Asset Management LLC

River Road Asset Management LLC grew its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 7.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 971,026 shares of the company's stock after buying an additional 64,296 shares during the quarter. River Road Asset Management LLC owned 5.11% of Ingles Markets worth $72,439,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC boosted its stake in Ingles Markets by 240.9% during the second quarter. CWM LLC now owns 433 shares of the company's stock worth $30,000 after buying an additional 306 shares during the last quarter. GAMMA Investing LLC boosted its stake in Ingles Markets by 413.9% during the third quarter. GAMMA Investing LLC now owns 406 shares of the company's stock worth $30,000 after buying an additional 327 shares during the last quarter. Signaturefd LLC boosted its stake in Ingles Markets by 101.0% during the second 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. Canada Pension Plan Investment Board acquired a new position in Ingles Markets during the second quarter worth $69,000. Finally, Innealta Capital LLC acquired a new position in Ingles Markets during the second quarter worth $74,000. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Ingles Markets Stock Performance

IMKTA traded up $1.63 during trading on Tuesday, hitting $67.32. 121,168 shares of the stock were exchanged, compared to its average volume of 100,035. The firm has a market capitalization of $1.28 billion, a P/E ratio of 8.01 and a beta of 0.72. Ingles Markets, Incorporated has a 1-year low of $59.73 and a 1-year high of $89.59. The stock has a fifty day moving average price of $68.06 and a two-hundred day moving average price of $71.02. The company has a quick ratio of 1.49, a current ratio of 2.99 and a debt-to-equity ratio of 0.34.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $1.67 earnings per share for the quarter. Ingles Markets had a return on equity of 10.58% and a net margin of 2.74%. The company had revenue of $1.39 billion for the quarter.

Ingles Markets Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 10th were issued 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 0.98%. Ingles Markets's dividend payout ratio is presently 7.86%.

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.