Denali Advisors LLC Grows Stock Holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Denali Advisors LLC grew its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 40.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,102 shares of the company’s stock after buying an additional 26,607 shares during the quarter. Ingles Markets accounts for 1.7% of Denali Advisors LLC’s portfolio, making the stock its 14th largest position. Denali Advisors LLC owned about 0.48% of Ingles Markets worth $6,319,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CWM LLC lifted its position in shares of Ingles Markets by 240.9% during the second quarter. CWM LLC now owns 433 shares of the company’s stock worth $30,000 after purchasing an additional 306 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Ingles Markets by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 735 shares of the company’s stock worth $63,000 after purchasing an additional 170 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Ingles Markets during the fourth quarter worth $78,000. Signaturefd LLC raised its holdings in Ingles Markets by 101.0% in the second quarter. Signaturefd LLC now owns 1,003 shares of the company’s stock valued at $69,000 after acquiring an additional 504 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Ingles Markets in the second quarter valued at $74,000. 62.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th.

Ingles Markets Trading Up 0.1 %

IMKTA opened at $73.49 on Tuesday. The stock has a market capitalization of $1.40 billion, a PE ratio of 7.93 and a beta of 0.70. The firm’s fifty day moving average price is $74.12 and its 200 day moving average price is $73.28. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.99 and a quick ratio of 1.49. Ingles Markets, Incorporated has a 12-month low of $67.10 and a 12-month high of $89.59.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.67 earnings per share (EPS) for the quarter. The firm had revenue of $1.39 billion for the quarter. Ingles Markets had a net margin of 2.74% and a return on equity of 10.58%.

Ingles Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Thursday, July 11th were issued a dividend of $0.165 per share. The ex-dividend date was Thursday, July 11th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.90%. Ingles Markets’s dividend payout ratio (DPR) is 7.12%.

Insiders Place Their Bets

In other Ingles Markets news, Director Sharp Laura Ingle sold 4,799 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $70.38, for a total transaction of $337,753.62. Following the sale, the director now directly owns 5,901 shares of the company’s stock, valued at $415,312.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.10% of the stock is owned by corporate insiders.

About Ingles Markets

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.