Brandes Investment Partners LP Has $82.72 Million Stake in Ingles Markets, Incorporated $IMKTA

Brandes Investment Partners LP lifted its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,206,646 shares of the company’s stock after buying an additional 46,269 shares during the quarter. Brandes Investment Partners LP owned about 6.35% of Ingles Markets worth $82,716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of IMKTA. Royal Bank of Canada grew its position in shares of Ingles Markets by 15.4% during the 1st quarter. Royal Bank of Canada now owns 19,083 shares of the company’s stock worth $1,243,000 after buying an additional 2,544 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ingles Markets by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,617 shares of the company’s stock worth $561,000 after buying an additional 385 shares during the period. Jane Street Group LLC grew its position in shares of Ingles Markets by 275.9% during the 1st quarter. Jane Street Group LLC now owns 30,644 shares of the company’s stock worth $1,996,000 after buying an additional 22,492 shares during the period. Cetera Investment Advisers grew its position in shares of Ingles Markets by 17.3% during the 2nd quarter. Cetera Investment Advisers now owns 4,351 shares of the company’s stock worth $276,000 after buying an additional 641 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Ingles Markets by 19.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,155 shares of the company’s stock worth $200,000 after buying an additional 509 shares during the period. Institutional investors and hedge funds own 62.54% of the company’s stock.

Ingles Markets Price Performance

Shares of IMKTA opened at $92.85 on Wednesday. Ingles Markets, Incorporated has a 12-month low of $59.27 and a 12-month high of $95.62. The business’s fifty day moving average is $89.39 and its 200 day moving average is $82.08. The company has a quick ratio of 1.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.29. The stock has a market cap of $1.76 billion, a P/E ratio of 16.91 and a beta of 0.60.

Ingles Markets (NASDAQ:IMKTA) last issued its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter. Ingles Markets had a return on equity of 6.41% and a net margin of 1.93%.The company had revenue of $1.31 billion for the quarter.

Ingles Markets Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Thursday, April 9th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, April 9th. Ingles Markets’s dividend payout ratio (DPR) is currently 12.02%.

Insider Activity

In other news, Director Dwight L. Jacobs bought 500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average cost of $88.07 per share, for a total transaction of $44,035.00. Following the acquisition, the director directly owned 500 shares in the company, valued at approximately $44,035. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on IMKTA shares. Weiss Ratings downgraded shares of Ingles Markets from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. Wall Street Zen cut Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Ingles Markets 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.