River Road Asset Management LLC Acquires 64,296 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

River Road Asset Management LLC boosted its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 7.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 971,026 shares of the company’s stock after acquiring an additional 64,296 shares during the quarter. River Road Asset Management LLC owned 5.11% of Ingles Markets worth $72,439,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IMKTA. Janney Montgomery Scott LLC lifted its holdings in shares of Ingles Markets by 3.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 18,098 shares of the company’s stock valued at $1,350,000 after buying an additional 542 shares during the period. James Investment Research Inc. lifted its holdings in shares of Ingles Markets by 3.7% during the 3rd quarter. James Investment Research Inc. now owns 18,122 shares of the company’s stock valued at $1,352,000 after buying an additional 645 shares during the period. Private Advisor Group LLC bought a new position in shares of Ingles Markets during the 3rd quarter valued at $603,000. Creative Planning lifted its holdings in shares of Ingles Markets by 40.2% during the 3rd quarter. Creative Planning now owns 6,848 shares of the company’s stock valued at $511,000 after buying an additional 1,964 shares during the period. Finally, CWM LLC lifted its holdings in shares of Ingles Markets by 75.5% during the 3rd quarter. CWM LLC now owns 760 shares of the company’s stock valued at $57,000 after buying an additional 327 shares during the period. 62.54% of the stock is owned by institutional investors.

Ingles Markets Trading Up 1.0 %

Shares of IMKTA stock opened at $65.69 on Tuesday. Ingles Markets, Incorporated has a 52-week low of $59.73 and a 52-week high of $89.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 2.99. The firm has a market capitalization of $1.25 billion, a PE ratio of 7.82 and a beta of 0.72. The stock has a fifty day simple moving average of $68.18 and a two-hundred day simple moving average of $71.08.

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

Ingles Markets Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 10th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, October 10th. Ingles Markets’s payout ratio is 7.86%.

Analyst Upgrades and Downgrades

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

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.