Victory Capital Management Inc. raised its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 54.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,233 shares of the company’s stock after buying an additional 1,146 shares during the period. Victory Capital Management Inc.’s holdings in Ingles Markets, were worth $140,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. increased its position in Ingles Markets, by 4.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,854 shares of the company’s stock valued at $468,000 after buying an additional 500 shares during the last quarter. Oxford Asset Management bought a new stake in shares of Ingles Markets, during the first quarter valued at about $448,000. Ameriprise Financial Inc. boosted its stake in shares of Ingles Markets, by 9.0% in the first quarter. Ameriprise Financial Inc. now owns 113,885 shares of the company’s stock valued at $4,915,000 after buying an additional 9,447 shares during the period. Karp Capital Management Corp bought a new stake in shares of Ingles Markets, during the first quarter valued at about $294,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Ingles Markets, by 5.9% in the first quarter. Bank of New York Mellon Corp now owns 127,118 shares of the company’s stock valued at $5,485,000 after buying an additional 7,052 shares during the period. Hedge funds and other institutional investors own 58.91% of the company’s stock.
Ingles Markets, Incorporated (NASDAQ:IMKTA) traded down 1.51% during trading on Friday, hitting $29.45. The company’s stock had a trading volume of 46,620 shares. The company has a 50-day moving average of $32.02 and a 200 day moving average of $40.91. Ingles Markets, Incorporated has a one year low of $28.42 and a one year high of $52.40. The firm has a market cap of $596.63 million, a PE ratio of 11.98 and a beta of 0.62.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 13th. Stockholders of record on Thursday, July 6th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Monday, July 3rd. Ingles Markets,’s dividend payout ratio (DPR) is presently 26.83%.
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A number of analysts have recently weighed in on IMKTA shares. Zacks Investment Research cut Ingles Markets, from a “hold” rating to a “sell” rating in a research report on Friday, May 5th. TheStreet cut Ingles Markets, from a “b” rating to a “c+” rating in a research report on Thursday, June 15th.
About Ingles Markets,
Ingles Markets, Incorporated (Ingles) is a supermarket chain in the southeast United States. The Company’s segments include retail grocery and other. Its other segment consists of fluid dairy operations and shopping center rentals. As of September 24, 2016, the Company operated 201 supermarkets in Georgia, North Carolina, South Carolina, Tennessee, Virginia and Alabama.
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