Ingles Markets, Incorporated (NASDAQ:IMKTA) Stock Position Boosted by Denali Advisors LLC

Denali Advisors LLC boosted its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 40.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 92,102 shares of the company’s stock after acquiring an additional 26,607 shares during the quarter. Ingles Markets comprises 1.7% of Denali Advisors LLC’s holdings, making the stock its 14th biggest position. Denali Advisors LLC’s holdings in Ingles Markets were worth $6,319,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IMKTA. American Century Companies Inc. grew its position in Ingles Markets by 9.5% in the 2nd quarter. American Century Companies Inc. now owns 369,184 shares of the company’s stock valued at $25,330,000 after buying an additional 32,013 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Ingles Markets by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 311,124 shares of the company’s stock valued at $26,872,000 after acquiring an additional 23,854 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Ingles Markets in the 4th quarter valued at about $1,574,000. Allspring Global Investments Holdings LLC lifted its holdings in Ingles Markets by 69.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 41,219 shares of the company’s stock valued at $3,161,000 after acquiring an additional 16,877 shares during the last quarter. Finally, Boston Partners acquired a new stake in Ingles Markets in the 1st quarter valued at about $871,000. Institutional investors own 62.54% of the company’s stock.

Ingles Markets Price Performance

Shares of NASDAQ IMKTA opened at $73.49 on Tuesday. Ingles Markets, Incorporated has a twelve month low of $67.10 and a twelve month high of $89.59. The company has a current ratio of 2.99, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 7.93 and a beta of 0.70. The firm has a 50-day moving average of $74.12 and a two-hundred day moving average of $73.28.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.67 EPS for the quarter. Ingles Markets had a net margin of 2.74% and a return on equity of 10.58%. The company had revenue of $1.39 billion during the quarter.

Ingles Markets Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Thursday, July 11th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Thursday, July 11th. Ingles Markets’s dividend payout ratio is presently 7.12%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th.

Insider Buying and Selling at Ingles Markets

In other news, Director Sharp Laura Ingle sold 5,901 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $68.02, for a total value of $401,386.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.10% of the company’s stock.

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.