Creative Planning Grows Stake in Ingles Markets, Incorporated $IMKTA

Creative Planning lifted its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 125.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 13,608 shares of the company’s stock after buying an additional 7,564 shares during the period. Creative Planning’s holdings in Ingles Markets were worth $862,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ingles Markets by 9.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 497,217 shares of the company’s stock valued at $32,384,000 after purchasing an additional 43,659 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Ingles Markets by 122.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 72,964 shares of the company’s stock worth $4,819,000 after buying an additional 40,164 shares during the period. American Century Companies Inc. boosted its stake in shares of Ingles Markets by 8.1% during the first quarter. American Century Companies Inc. now owns 514,302 shares of the company’s stock worth $33,497,000 after buying an additional 38,408 shares during the period. Nuveen LLC purchased a new position in shares of Ingles Markets during the first quarter worth about $2,355,000. Finally, TrueMark Investments LLC acquired a new position in Ingles Markets in the 2nd quarter valued at about $2,179,000. 62.54% of the stock is owned by hedge funds and other institutional investors.

Ingles Markets Price Performance

Shares of NASDAQ:IMKTA opened at $75.07 on Tuesday. Ingles Markets, Incorporated has a 52 week low of $58.92 and a 52 week high of $78.59. The company has a 50-day moving average price of $72.55 and a 200 day moving average price of $67.50. The company has a market cap of $1.43 billion, a P/E ratio of 25.28 and a beta of 0.74. The company has a quick ratio of 1.53, a current ratio of 3.14 and a debt-to-equity ratio of 0.32.

Ingles Markets Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Thursday, October 9th were paid a $0.165 dividend. The ex-dividend date was Thursday, October 9th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. Ingles Markets’s payout ratio is 15.00%.

Wall Street Analyst Weigh In

IMKTA has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingles Markets in a research report on Tuesday, November 25th. Wall Street Zen upgraded Ingles Markets from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Ingles Markets currently has an average rating of “Hold”.

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.