River Road Asset Management LLC Boosts Holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA)

River Road Asset Management LLC grew its position in Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 976,424 shares of the company's stock after acquiring an additional 5,398 shares during the period. River Road Asset Management LLC owned about 5.14% of Ingles Markets worth $62,921,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Systematic Financial Management LP boosted its holdings in shares of Ingles Markets by 8.3% during the 3rd quarter. Systematic Financial Management LP now owns 196,671 shares of the company's stock worth $14,672,000 after buying an additional 15,107 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Ingles Markets by 33.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,846 shares of the company's stock worth $3,271,000 after buying an additional 10,916 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Ingles Markets by 36.2% during the 3rd quarter. Victory Capital Management Inc. now owns 47,901 shares of the company's stock worth $3,573,000 after buying an additional 12,726 shares during the period. Barclays PLC raised its stake in Ingles Markets by 346.2% in the 3rd quarter. Barclays PLC now owns 23,689 shares of the company's stock worth $1,768,000 after purchasing an additional 18,380 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Ingles Markets by 5.8% in the 3rd quarter. Franklin Resources Inc. now owns 6,933 shares of the company's stock worth $517,000 after purchasing an additional 378 shares in the last quarter. Institutional investors own 62.54% of the company's stock.

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Ingles Markets Price Performance

Shares of NASDAQ:IMKTA traded down $0.19 during midday trading on Friday, hitting $61.59. The stock had a trading volume of 144,438 shares, compared to its average volume of 118,672. The company's 50-day moving average price is $64.10 and its 200-day moving average price is $67.22. The company has a market capitalization of $1.17 billion, a P/E ratio of 14.88 and a beta of 0.71. 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, Incorporated has a fifty-two week low of $58.92 and a fifty-two week high of $82.01.

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

Ingles Markets Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Friday, January 10th. Ingles Markets's payout ratio is 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 note 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.