Aristeia Capital L.L.C. Grows Stock Holdings in Ingles Markets, Incorporated $IMKTA

Aristeia Capital L.L.C. increased its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 214.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,585 shares of the company’s stock after acquiring an additional 7,905 shares during the period. Aristeia Capital L.L.C. owned about 0.06% of Ingles Markets worth $794,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Comerica Bank grew its position in Ingles Markets by 157.5% in the 4th quarter. Comerica Bank now owns 37,415 shares of the company’s stock worth $2,565,000 after purchasing an additional 22,883 shares during the period. American Century Companies Inc. grew its position in shares of Ingles Markets by 4.5% during the 3rd quarter. American Century Companies Inc. now owns 561,306 shares of the company’s stock valued at $39,045,000 after acquiring an additional 24,406 shares during the period. Teacher Retirement System of Texas grew its position in shares of Ingles Markets by 17.8% during the 4th quarter. Teacher Retirement System of Texas now owns 92,441 shares of the company’s stock valued at $6,337,000 after acquiring an additional 13,972 shares during the period. Gate City Capital Management LLC lifted its stake in shares of Ingles Markets by 5.9% during the 4th quarter. Gate City Capital Management LLC now owns 207,561 shares of the company’s stock valued at $14,228,000 after buying an additional 11,516 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Ingles Markets by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 1,300,136 shares of the company’s stock valued at $89,124,000 after buying an additional 20,189 shares in the last quarter. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Dwight L. Jacobs acquired 500 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of $88.07 per share, with a total value of $44,035.00. Following the completion of the acquisition, the director owned 500 shares of the company’s stock, valued at approximately $44,035. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 22.80% of the company’s stock.

Ingles Markets Trading Down 1.6%

NASDAQ IMKTA opened at $87.07 on Thursday. The company has a current ratio of 3.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $89.33 and a two-hundred day simple moving average of $82.69. Ingles Markets, Incorporated has a 12-month low of $59.27 and a 12-month high of $95.62. The stock has a market cap of $1.65 billion, a P/E ratio of 15.86 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 net margin of 1.93% and a return on equity of 6.41%. The firm had revenue of $1.31 billion during the quarter.

Ingles Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Thursday, April 9th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, April 9th. Ingles Markets’s dividend payout ratio (DPR) is 12.02%.

Analyst Ratings Changes

IMKTA has been the topic of a number of analyst reports. Weiss Ratings cut shares of Ingles Markets from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. Wall Street Zen downgraded shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Ingles Markets has a consensus rating of “Hold”.

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.