Evolve Private Wealth LLC Acquires New Shares in Ingles Markets, Incorporated $IMKTA

Evolve Private Wealth LLC bought a new position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 7,997 shares of the company’s stock, valued at approximately $719,000.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in Ingles Markets by 14.4% in the third quarter. Parallel Advisors LLC now owns 1,561 shares of the company’s stock worth $109,000 after purchasing an additional 197 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Ingles Markets by 4.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,809 shares of the company’s stock valued at $330,000 after buying an additional 207 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Ingles Markets by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,163 shares of the company’s stock valued at $327,000 after buying an additional 209 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of Ingles Markets by 4.0% in the 4th quarter. Ballentine Partners LLC now owns 5,643 shares of the company’s stock valued at $387,000 after buying an additional 217 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Ingles Markets by 1.5% in the 3rd quarter. Legal & General Group Plc now owns 16,096 shares of the company’s stock worth $1,120,000 after buying an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Analyst Ratings Changes

IMKTA has been the subject of a number of recent analyst reports. Weiss Ratings raised Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Wall Street Zen lowered Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Insider Activity

In other news, Director Dwight L. Jacobs acquired 500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $88.07 per share, for a total transaction of $44,035.00. Following the completion of the transaction, the director 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 legal filing with the Securities & Exchange Commission, which is available at this link. 22.80% of the stock is owned by company insiders.

Ingles Markets Stock Performance

Shares of NASDAQ IMKTA opened at $90.19 on Thursday. The company has a market capitalization of $1.71 billion, a PE ratio of 16.43 and a beta of 0.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.77 and a current ratio of 3.34. The company’s fifty day moving average price is $88.85 and its 200 day moving average price is $83.12. Ingles Markets, Incorporated has a 1 year low of $59.27 and a 1 year high of $95.62.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly 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 for the quarter.

Ingles Markets Dividend Announcement

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

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.