Factorial Partners LLC Increases Holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Factorial Partners LLC lifted its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 22.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,996 shares of the company’s stock after acquiring an additional 5,600 shares during the period. Factorial Partners LLC owned 0.16% of Ingles Markets worth $1,997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Denali Advisors LLC boosted its stake in Ingles Markets by 3.5% during the fourth quarter. Denali Advisors LLC now owns 100,708 shares of the company’s stock worth $6,490,000 after buying an additional 3,400 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in shares of Ingles Markets by 13.9% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 7,655 shares of the company’s stock worth $493,000 after purchasing an additional 936 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Ingles Markets by 4.6% during the 4th quarter. New York State Common Retirement Fund now owns 34,020 shares of the company’s stock worth $2,192,000 after purchasing an additional 1,500 shares during the period. Sanctuary Advisors LLC grew its holdings in Ingles Markets by 40.8% during the 4th quarter. Sanctuary Advisors LLC now owns 15,579 shares of the company’s stock valued at $1,044,000 after purchasing an additional 4,515 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC raised its position in Ingles Markets by 2.1% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 7,443 shares of the company’s stock worth $480,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Ingles Markets Stock Performance

IMKTA stock opened at $61.44 on Friday. Ingles Markets, Incorporated has a twelve month low of $59.73 and a twelve month high of $82.01. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 14.84 and a beta of 0.75. The business’s fifty day simple moving average is $64.78 and its two-hundred day simple moving average is $67.92. The company has a quick ratio of 1.45, a current ratio of 3.24 and a debt-to-equity ratio of 0.33.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.87 EPS for the quarter. Ingles Markets had a net margin of 1.45% and a return on equity of 5.09%.

Ingles Markets Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a $0.165 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.07%. Ingles Markets’s payout ratio is 15.94%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Ingles Markets from a “buy” rating to a “hold” rating in a research note on Monday, February 10th.

Ingles Markets Company Profile

Ingles Markets, Incorporated, together with its subsidiaries, operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.