HighTower Advisors LLC Buys New Shares in Ingles Markets, Incorporated (NASDAQ:IMKTA)

HighTower Advisors LLC purchased a new position in Ingles Markets, Incorporated (NASDAQ:IMKTA) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 19,648 shares of the company’s stock, valued at approximately $1,207,000.

Other large investors also recently bought and sold shares of the company. Aperio Group LLC grew its stake in Ingles Markets by 14.2% in the fourth quarter. Aperio Group LLC now owns 46,497 shares of the company’s stock valued at $1,984,000 after acquiring an additional 5,776 shares during the period. Virginia Retirement Systems ET AL grew its position in Ingles Markets by 12.7% in the 4th quarter. Virginia Retirement Systems ET AL now owns 29,300 shares of the company’s stock valued at $1,250,000 after purchasing an additional 3,300 shares during the period. The Manufacturers Life Insurance Company increased its stake in Ingles Markets by 5.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 9,272 shares of the company’s stock valued at $396,000 after purchasing an additional 456 shares in the last quarter. FCA Corp TX increased its stake in Ingles Markets by 1.4% during the 4th quarter. FCA Corp TX now owns 69,117 shares of the company’s stock valued at $2,949,000 after purchasing an additional 984 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in Ingles Markets during the fourth quarter worth $287,000. Institutional investors and hedge funds own 67.96% of the company’s stock.

In related news, Director Sharp Laura Ingle sold 10,000 shares of the stock in a transaction on Thursday, March 25th. The stock was sold at an average price of $63.44, for a total value of $634,400.00. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $951,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 29.10% of the company’s stock.

Shares of NASDAQ IMKTA opened at $63.42 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.69 and a quick ratio of 0.38. The firm’s 50-day simple moving average is $62.53. The firm has a market capitalization of $1.20 billion, a PE ratio of 5.66 and a beta of 0.56. Ingles Markets, Incorporated has a 1 year low of $34.92 and a 1 year high of $67.60.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings results on Wednesday, May 5th. The company reported $2.58 earnings per share (EPS) for the quarter. The business had revenue of $1.18 billion during the quarter. Ingles Markets had a return on equity of 27.46% and a net margin of 4.76%.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Thursday, April 8th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, April 7th. This represents a $0.66 annualized dividend and a dividend yield of 1.04%.

Ingles Markets Company Profile

Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. Its supermarkets offer various food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, such as fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.

Read More: Preferred Stock

Want to see what other hedge funds are holding IMKTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingles Markets, Incorporated (NASDAQ:IMKTA).

Institutional Ownership by Quarter for Ingles Markets (NASDAQ:IMKTA)

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