Allianz Asset Management GmbH Boosts Stake in Ingles Markets, Incorporated $IMKTA

Allianz Asset Management GmbH lifted its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 24.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 188,964 shares of the company’s stock after acquiring an additional 37,194 shares during the period. Allianz Asset Management GmbH’s holdings in Ingles Markets were worth $13,144,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IMKTA. Huntington National Bank raised its position in Ingles Markets by 45,500.0% during the second quarter. Huntington National Bank now owns 456 shares of the company’s stock valued at $29,000 after purchasing an additional 455 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Ingles Markets during the 3rd quarter valued at about $38,000. First Horizon Advisors Inc. increased its position in shares of Ingles Markets by 192.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 632 shares of the company’s stock valued at $40,000 after purchasing an additional 416 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Ingles Markets by 254.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,131 shares of the company’s stock valued at $78,000 after buying an additional 812 shares in the last quarter. Finally, CWM LLC lifted its position in Ingles Markets by 221.6% in the 3rd quarter. CWM LLC now owns 1,177 shares of the company’s stock worth $82,000 after buying an additional 811 shares during the last quarter. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on IMKTA. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ingles Markets in a research report on Monday, December 29th. Wall Street Zen raised shares of Ingles Markets from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Ingles Markets Price Performance

IMKTA opened at $84.90 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.22 and a quick ratio of 1.63. The stock’s 50 day simple moving average is $72.59 and its 200 day simple moving average is $70.65. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 16.95 and a beta of 0.77. Ingles Markets, Incorporated has a 1 year low of $58.92 and a 1 year high of $85.53.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings data on Thursday, February 5th. The company reported $1.48 earnings per share for the quarter. The firm had revenue of $1.37 billion during the quarter. Ingles Markets had a return on equity of 5.97% and a net margin of 1.76%.

Ingles Markets Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Thursday, January 8th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, January 8th. Ingles Markets’s dividend payout ratio is currently 15.00%.

Ingles Markets Company Profile

Ingles Markets, Inc (NASDAQ: IMKTA) is a family‐owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.

In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.