River Road Asset Management LLC Raises Holdings in Ingles Markets, Incorporated $IMKTA

River Road Asset Management LLC grew its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,007,275 shares of the company’s stock after buying an additional 22,979 shares during the quarter. River Road Asset Management LLC owned about 5.30% of Ingles Markets worth $69,049,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of IMKTA. Highlander Partners L.P. purchased a new position in Ingles Markets in the fourth quarter worth $45,000. Eastern Bank purchased a new stake in shares of Ingles Markets during the 4th quarter worth $48,000. Torren Management LLC purchased a new stake in shares of Ingles Markets during the 4th quarter worth $51,000. Huntington National Bank grew its stake in shares of Ingles Markets by 63.1% during the 4th quarter. Huntington National Bank now owns 778 shares of the company’s stock worth $53,000 after purchasing an additional 301 shares during the period. Finally, Financial Consulate Inc. acquired a new position in shares of Ingles Markets during the 4th quarter worth $55,000. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ingles Markets news, Director Dwight L. Jacobs acquired 500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $88.07 per share, with a total value of $44,035.00. Following the purchase, the director owned 500 shares in the company, valued at approximately $44,035. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 22.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Ingles Markets from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Wall Street Zen lowered shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Ingles Markets Stock Performance

Shares of IMKTA stock opened at $87.43 on Friday. The stock has a fifty day moving average price of $89.23 and a 200 day moving average price of $82.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.77 and a current ratio of 3.34. The stock has a market cap of $1.66 billion, a PE ratio of 15.93 and a beta of 0.60. Ingles Markets, Incorporated has a 1 year low of $59.27 and a 1 year high of $95.62.

Ingles Markets (NASDAQ:IMKTA) last posted its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter. Ingles Markets had a return on equity of 6.41% and a net margin of 1.93%.The company had revenue of $1.31 billion for the quarter.

Ingles Markets Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Thursday, April 9th were given a $0.165 dividend. The ex-dividend date was Thursday, April 9th. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. Ingles Markets’s payout ratio is currently 12.02%.

About Ingles Markets

Ingles Markets, Inc (NASDAQ: IMKTA) is a family‐owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.

In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.