Leuthold Group LLC Makes New Investment in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Leuthold Group LLC purchased a new position in Ingles Markets, Incorporated (NASDAQ:IMKTA) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,429 shares of the company’s stock, valued at approximately $210,000.

A number of other large investors have also made changes to their positions in the business. Ziegler Capital Management LLC raised its holdings in Ingles Markets by 2.2% in the fourth quarter. Ziegler Capital Management LLC now owns 10,993 shares of the company’s stock valued at $949,000 after acquiring an additional 240 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Ingles Markets by 2.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 15,007 shares of the company’s stock worth $1,130,000 after acquiring an additional 375 shares in the last quarter. Swiss National Bank lifted its stake in Ingles Markets by 1.3% during the third quarter. Swiss National Bank now owns 31,700 shares of the company’s stock worth $2,388,000 after purchasing an additional 400 shares during the last quarter. Burney Co. boosted its holdings in Ingles Markets by 13.8% in the third quarter. Burney Co. now owns 3,508 shares of the company’s stock valued at $264,000 after purchasing an additional 425 shares in the last quarter. Finally, PAX Financial Group LLC increased its stake in Ingles Markets by 9.7% in the third quarter. PAX Financial Group LLC now owns 7,310 shares of the company’s stock valued at $551,000 after purchasing an additional 649 shares during the last quarter. 62.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IMKTA. StockNews.com lowered Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Friday, February 9th. TheStreet lowered Ingles Markets from a “b” rating to a “c+” rating in a research note on Monday, February 26th.

Ingles Markets Trading Down 0.2 %

IMKTA stock traded down $0.13 during trading on Monday, reaching $72.17. 56,685 shares of the stock traded hands, compared to its average volume of 80,592. Ingles Markets, Incorporated has a 52-week low of $71.70 and a 52-week high of $89.59. The business’s 50 day moving average price is $74.73 and its 200-day moving average price is $79.72. The firm has a market capitalization of $1.37 billion, a PE ratio of 7.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.22 and a quick ratio of 1.45.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings results on Thursday, February 8th. The company reported $2.28 earnings per share (EPS) for the quarter. Ingles Markets had a return on equity of 12.92% and a net margin of 3.14%. The business had revenue of $1.48 billion for the quarter.

Ingles Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, April 11th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $0.66 annualized dividend and a yield of 0.91%. Ingles Markets’s dividend payout ratio (DPR) is 6.79%.

Insider Buying and Selling

In related news, Director Sharp Laura Ingle sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $76.25, for a total transaction of $305,000.00. Following the completion of the transaction, the director now owns 20,700 shares in the company, valued at approximately $1,578,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 8,000 shares of company stock worth $607,000 over the last quarter. 23.10% of the stock is owned by company 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.