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

River Road Asset Management LLC increased its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 2.3% in the 4th quarter, HoldingsChannel reports. 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 approximately 0.05% of Ingles Markets worth $69,049,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IMKTA. Highlander Partners L.P. purchased a new position in Ingles Markets during the fourth quarter worth $45,000. Eastern Bank acquired a new position in shares of Ingles Markets in the fourth quarter worth $48,000. Torren Management LLC purchased a new stake in shares of Ingles Markets in the fourth quarter valued at $51,000. Huntington National Bank lifted its position in shares of Ingles Markets by 63.1% in the fourth quarter. Huntington National Bank now owns 778 shares of the company’s stock valued at $53,000 after acquiring an additional 301 shares in the last quarter. Finally, Financial Consulate Inc. purchased a new stake in shares of Ingles Markets in the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Ingles Markets Stock Up 0.4%

Shares of NASDAQ IMKTA opened at $87.43 on Friday. Ingles Markets, Incorporated has a 1 year low of $59.27 and a 1 year high of $95.62. The firm’s 50 day moving average price is $89.23 and its 200 day moving average price is $82.76. The firm has a market cap of $1.66 billion, a P/E ratio of 15.93 and a beta of 0.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.77 and a current ratio of 3.34.

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

Ingles Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th were issued a dividend of $0.165 per share. 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 dividend payout ratio (DPR) is 12.02%.

Insider Activity at Ingles Markets

In other Ingles Markets news, Director Dwight L. Jacobs acquired 500 shares of the stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average price of $88.07 per share, with a total value of $44,035.00. Following the completion of the transaction, the director directly owned 500 shares in the company, valued at approximately $44,035. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 22.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen cut Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded shares of Ingles Markets from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

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.