Ingles Markets, Incorporated $IMKTA Shares Acquired by Royal Bank of Canada

Royal Bank of Canada boosted its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 103.5% in the first quarter, Holdings Channel.com reports. The firm owned 12,035 shares of the company’s stock after acquiring an additional 6,122 shares during the quarter. Royal Bank of Canada’s holdings in Ingles Markets were worth $1,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global Trust Asset Management LLC purchased a new position in Ingles Markets during the first quarter worth approximately $38,000. Highlander Partners L.P. purchased a new stake in shares of Ingles Markets during the 4th quarter valued at $45,000. Torren Management LLC purchased a new stake in shares of Ingles Markets during the 4th quarter valued at $51,000. Huntington National Bank increased its holdings in shares of Ingles Markets by 63.1% during the 4th quarter. Huntington National Bank now owns 778 shares of the company’s stock worth $53,000 after buying an additional 301 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Ingles Markets by 14.4% during 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. Institutional investors and hedge funds own 62.54% of the company’s stock.

Analyst Upgrades and Downgrades

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

Ingles Markets Trading Up 0.1%

NASDAQ IMKTA opened at $84.94 on Friday. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 15.53 and a beta of 0.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.75 and a current ratio of 3.21. Ingles Markets, Incorporated has a one year low of $65.90 and a one year high of $95.62. The company’s 50 day moving average price is $88.79 and its 200 day moving average price is $88.26.

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

Ingles Markets Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 9th were issued a dividend of $0.165 per share. The ex-dividend date was Thursday, July 9th. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. Ingles Markets’s payout ratio is presently 12.07%.

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.