Allianz Asset Management GmbH boosted its position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA – Free Report) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,770 shares of the company’s stock after buying an additional 3,993 shares during the quarter. Allianz Asset Management GmbH owned 0.80% of Ingles Markets worth $9,619,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Ingles Markets by 9.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 497,217 shares of the company’s stock valued at $32,384,000 after purchasing an additional 43,659 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Ingles Markets by 122.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 72,964 shares of the company’s stock valued at $4,819,000 after purchasing an additional 40,164 shares during the period. American Century Companies Inc. boosted its stake in shares of Ingles Markets by 8.1% during the first quarter. American Century Companies Inc. now owns 514,302 shares of the company’s stock valued at $33,497,000 after purchasing an additional 38,408 shares during the period. Nuveen LLC purchased a new stake in shares of Ingles Markets during the first quarter valued at $2,355,000. Finally, Vanguard Group Inc. boosted its stake in shares of Ingles Markets by 1.9% during the first quarter. Vanguard Group Inc. now owns 1,257,669 shares of the company’s stock valued at $81,912,000 after purchasing an additional 22,970 shares during the period. 62.54% of the stock is owned by hedge funds and other institutional investors.
Ingles Markets Stock Performance
IMKTA stock opened at $72.64 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.14 and a quick ratio of 1.53. The business has a 50-day moving average price of $69.36 and a 200 day moving average price of $65.22. The company has a market capitalization of $1.38 billion, a P/E ratio of 24.46 and a beta of 0.75. Ingles Markets, Incorporated has a 1-year low of $58.92 and a 1-year high of $75.63.
Ingles Markets Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Thursday, October 9th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, October 9th. Ingles Markets’s payout ratio is presently 22.22%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Ingles Markets in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.
Read Our Latest Report on IMKTA
Ingles Markets 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.
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