Empowered Funds LLC Purchases 49,115 Shares of Ingles Markets, Incorporated $IMKTA

Empowered Funds LLC lifted its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 78.7% in the first quarter, HoldingsChannel reports. The firm owned 111,548 shares of the company’s stock after purchasing an additional 49,115 shares during the quarter. Empowered Funds LLC’s holdings in Ingles Markets were worth $10,027,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IMKTA. PNC Financial Services Group Inc. lifted its position in Ingles Markets by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,966 shares of the company’s stock valued at $446,000 after purchasing an additional 157 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Ingles Markets by 14.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,561 shares of the company’s stock worth $109,000 after buying an additional 197 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Ingles Markets by 4.2% during 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 raised its position in shares of Ingles Markets by 4.0% during 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 lifted its holdings 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 valued at $1,120,000 after acquiring an additional 234 shares during the last quarter. Institutional investors own 62.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on IMKTA shares. Weiss Ratings upgraded Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Wall Street Zen downgraded Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Ingles Markets presently has an average rating of “Buy”.

Ingles Markets Stock Performance

Shares of NASDAQ:IMKTA opened at $89.70 on Friday. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 16.34 and a beta of 0.61. Ingles Markets, Incorporated has a 12 month low of $59.27 and a 12 month high of $95.62. The firm’s 50-day moving average is $89.59 and its 200 day moving average is $86.60. The company has a current ratio of 3.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.29.

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

Ingles Markets Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Thursday, July 9th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, July 9th. Ingles Markets’s dividend payout ratio is presently 12.02%.

Insider Buying and Selling at Ingles Markets

In other Ingles Markets news, Director Dwight L. Jacobs purchased 500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $88.07 per share, with a total value of $44,035.00. Following the purchase, the director owned 500 shares of the company’s stock, valued at approximately $44,035. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.80% of the company’s stock.

About Ingles Markets

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.