TrueMark Investments LLC Buys Shares of 34,387 Ingles Markets, Incorporated $IMKTA

TrueMark Investments LLC bought a new stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) during the second quarter, HoldingsChannel.com reports. The fund bought 34,387 shares of the company’s stock, valued at approximately $2,179,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in shares of Ingles Markets by 82.5% during the 2nd quarter. Signaturefd LLC now owns 522 shares of the company’s stock worth $33,000 after acquiring an additional 236 shares during the period. Summer Road LLC lifted its holdings in shares of Ingles Markets by 125.0% during the 1st quarter. Summer Road LLC now owns 1,800 shares of the company’s stock worth $115,000 after acquiring an additional 1,000 shares during the period. Anchor Investment Management LLC lifted its holdings in shares of Ingles Markets by 85.0% during the 1st quarter. Anchor Investment Management LLC now owns 1,850 shares of the company’s stock worth $120,000 after acquiring an additional 850 shares during the period. DMC Group LLC purchased a new position in shares of Ingles Markets during the 1st quarter worth about $239,000. Finally, Cetera Investment Advisers purchased a new position in shares of Ingles Markets during the 1st quarter worth about $242,000. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Ingles Markets in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Ingles Markets Stock Up 0.0%

IMKTA opened at $73.50 on Friday. The firm has a 50 day moving average price of $68.95 and a 200 day moving average price of $65.07. The company has a market cap of $1.40 billion, a PE ratio of 24.75 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. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.53 and a current ratio of 3.14.

Ingles Markets (NASDAQ:IMKTA) last posted its earnings results on Thursday, August 7th. The company reported $1.38 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 1.05% and a return on equity of 3.60%.

Ingles Markets Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Thursday, October 9th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, October 9th. Ingles Markets’s dividend payout ratio is 22.22%.

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.