Brandes Investment Partners LP Buys 46,269 Shares of Ingles Markets, Incorporated $IMKTA

Brandes Investment Partners LP raised its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,206,646 shares of the company’s stock after acquiring an additional 46,269 shares during the period. Brandes Investment Partners LP owned about 0.06% of Ingles Markets worth $82,716,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Comerica Bank lifted its stake in Ingles Markets by 157.5% during the 4th quarter. Comerica Bank now owns 37,415 shares of the company’s stock valued at $2,565,000 after acquiring an additional 22,883 shares in the last quarter. American Century Companies Inc. lifted its stake in Ingles Markets by 4.5% during the 3rd quarter. American Century Companies Inc. now owns 561,306 shares of the company’s stock valued at $39,045,000 after acquiring an additional 24,406 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Ingles Markets by 17.8% during the 4th quarter. Teacher Retirement System of Texas now owns 92,441 shares of the company’s stock valued at $6,337,000 after acquiring an additional 13,972 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Ingles Markets by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 1,300,136 shares of the company’s stock worth $89,124,000 after purchasing an additional 20,189 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Ingles Markets by 77.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 39,141 shares of the company’s stock worth $2,723,000 after purchasing an additional 17,090 shares during the period. 62.54% of the stock is currently owned by institutional investors.

Ingles Markets Trading Up 0.1%

Shares of IMKTA opened at $92.85 on Wednesday. The business has a 50-day moving average of $89.39 and a 200 day moving average of $82.08. Ingles Markets, Incorporated has a fifty-two week low of $59.27 and a fifty-two week high of $95.62. The firm has a market cap of $1.76 billion, a P/E ratio of 16.91 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 announced its quarterly earnings data 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 during the quarter.

Ingles Markets Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Thursday, April 9th were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $0.66 annualized dividend and a yield of 0.7%. Ingles Markets’s dividend payout ratio (DPR) is 12.02%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Dwight L. Jacobs acquired 500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $88.07 per share, with a total value of $44,035.00. Following the acquisition, the director owned 500 shares in the company, valued at $44,035. The trade was a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 22.80% of the company’s stock.

Ingles Markets Company Profile

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.