Denali Advisors LLC Boosts Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Denali Advisors LLC lifted its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,708 shares of the company’s stock after acquiring an additional 3,400 shares during the quarter. Denali Advisors LLC owned approximately 0.53% of Ingles Markets worth $6,490,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC boosted its position in Ingles Markets by 2.1% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 7,443 shares of the company’s stock valued at $480,000 after acquiring an additional 150 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Ingles Markets by 4.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,369 shares of the company’s stock valued at $282,000 after purchasing an additional 187 shares in the last quarter. Ballentine Partners LLC grew its stake in Ingles Markets by 7.5% in the fourth quarter. Ballentine Partners LLC now owns 4,523 shares of the company’s stock worth $291,000 after purchasing an additional 314 shares during the period. Franklin Resources Inc. raised its holdings in Ingles Markets by 5.8% in the third 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. Finally, Janney Montgomery Scott LLC lifted its position in Ingles Markets by 3.1% during the third 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. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Ingles Markets Price Performance

IMKTA stock opened at $64.72 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.45 and a current ratio of 3.24. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 15.63 and a beta of 0.75. The firm has a 50 day moving average price of $65.02 and a 200-day moving average price of $68.06. Ingles Markets, Incorporated has a 52-week low of $59.73 and a 52-week high of $82.01.

Ingles Markets (NASDAQ:IMKTA) last announced 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, January 10th. Ingles Markets’s dividend payout ratio (DPR) is 15.94%.

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 Company 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.