Sterling Capital Management LLC Grows Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Sterling Capital Management LLC raised its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 811.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 465 shares of the company’s stock after purchasing an additional 414 shares during the period. Sterling Capital Management LLC’s holdings in Ingles Markets were worth $30,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of IMKTA. Meeder Asset Management Inc. bought a new position in Ingles Markets in the 4th quarter worth $30,000. FNY Investment Advisers LLC bought a new position in shares of Ingles Markets in the fourth quarter worth about $96,000. EntryPoint Capital LLC bought a new position in shares of Ingles Markets in the fourth quarter worth about $204,000. ExodusPoint Capital Management LP purchased a new stake in shares of Ingles Markets during the fourth quarter worth about $210,000. Finally, Exchange Traded Concepts LLC raised its stake in Ingles Markets by 4.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,369 shares of the company’s stock valued at $282,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Ingles Markets Stock Performance

Shares of NASDAQ IMKTA opened at $61.12 on Friday. The company has a market cap of $1.16 billion, a P/E ratio of 14.76 and a beta of 0.75. Ingles Markets, Incorporated has a 52-week low of $58.92 and a 52-week high of $82.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.45 and a current ratio of 3.24. The firm’s fifty day moving average is $62.88 and its two-hundred day moving average is $65.33.

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

Ingles Markets Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Thursday, April 10th were given a dividend of $0.165 per share. The ex-dividend date was Thursday, April 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.08%. Ingles Markets’s dividend payout ratio is currently 15.94%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Ingles Markets from a “hold” rating to a “buy” rating in a report on Friday.

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.