Odyssean LLC Takes Position in Ingles Markets, Incorporated $IMKTA

Odyssean LLC bought a new stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,530 shares of the company’s stock, valued at approximately $1,021,000. Odyssean LLC owned 0.06% of Ingles Markets as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in IMKTA. Royal Bank of Canada raised its holdings in Ingles Markets by 15.4% in the 1st quarter. Royal Bank of Canada now owns 19,083 shares of the company’s stock valued at $1,243,000 after acquiring an additional 2,544 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ingles Markets by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,617 shares of the company’s stock worth $561,000 after acquiring an additional 385 shares during the period. Jane Street Group LLC grew its holdings 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 purchasing an additional 22,492 shares in the last quarter. Cetera Investment Advisers grew its holdings 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 purchasing an additional 641 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Ingles Markets by 19.2% during the second quarter. Russell Investments Group Ltd. now owns 3,155 shares of the company’s stock valued at $200,000 after purchasing an additional 509 shares during the period. 62.54% of the stock is owned by institutional investors and hedge funds.

Ingles Markets Trading Down 1.4%

IMKTA stock opened at $83.54 on Thursday. Ingles Markets, Incorporated has a 1-year low of $66.41 and a 1-year high of $95.62. The company has a current ratio of 3.21, a quick ratio of 1.75 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $88.59 and its 200-day moving average is $88.38. The firm has a market cap of $1.59 billion, a P/E ratio of 15.27 and a beta of 0.60.

Ingles Markets (NASDAQ:IMKTA) last posted its earnings results on Thursday, August 6th. The company reported $1.36 EPS for the quarter. The business had revenue of $1.37 billion during the quarter. Ingles Markets had a return on equity of 6.30% and a net margin of 1.92%.

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 9th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.8%. Ingles Markets’s dividend payout ratio (DPR) is presently 12.07%.

Wall Street Analysts Forecast Growth

IMKTA has been the subject of a number of recent research reports. Weiss Ratings upgraded Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 24th. 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 research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Ingles Markets presently has a consensus rating of “Buy”.

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.