River Road Asset Management LLC Purchases 64,296 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

River Road Asset Management LLC boosted its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 971,026 shares of the company’s stock after purchasing an additional 64,296 shares during the period. River Road Asset Management LLC owned approximately 0.05% of Ingles Markets worth $72,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in Ingles Markets by 3.1% in the third quarter. Janney Montgomery Scott LLC now owns 18,098 shares of the company’s stock worth $1,350,000 after purchasing an additional 542 shares during the last quarter. James Investment Research Inc. raised its stake in shares of Ingles Markets by 3.7% during the third quarter. James Investment Research Inc. now owns 18,122 shares of the company’s stock valued at $1,352,000 after acquiring an additional 645 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Ingles Markets during the third quarter valued at approximately $603,000. Creative Planning raised its stake in shares of Ingles Markets by 40.2% during the third quarter. Creative Planning now owns 6,848 shares of the company’s stock valued at $511,000 after acquiring an additional 1,964 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Ingles Markets by 75.5% during the third quarter. CWM LLC now owns 760 shares of the company’s stock valued at $57,000 after acquiring an additional 327 shares in the last quarter. Institutional investors own 62.54% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 21st.

Ingles Markets Stock Performance

Ingles Markets stock opened at $65.69 on Tuesday. The company has a market capitalization of $1.25 billion, a PE ratio of 7.82 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 2.99. Ingles Markets, Incorporated has a fifty-two week low of $59.73 and a fifty-two week high of $89.59. The company has a 50 day moving average price of $68.18 and a 200-day moving average price of $71.08.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.67 earnings per share 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, October 17th. Investors of record on Thursday, October 10th were given a dividend of $0.165 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.66 dividend on an annualized basis and a yield of 1.00%. Ingles Markets’s dividend payout ratio is presently 7.86%.

Ingles Markets Company 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.