Creative Planning Boosts Stake in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Creative Planning raised its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 36.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,884 shares of the company’s stock after buying an additional 1,301 shares during the period. Creative Planning’s holdings in Ingles Markets were worth $335,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mackenzie Financial Corp raised its holdings in shares of Ingles Markets by 21.6% in the 2nd quarter. Mackenzie Financial Corp now owns 5,451 shares of the company’s stock valued at $374,000 after purchasing an additional 970 shares in the last quarter. Maverick Capital Ltd. raised its holdings in shares of Ingles Markets by 18.3% in the 2nd quarter. Maverick Capital Ltd. now owns 18,296 shares of the company’s stock valued at $1,255,000 after purchasing an additional 2,835 shares in the last quarter. AQR Capital Management LLC raised its stake in Ingles Markets by 18.0% during the 2nd quarter. AQR Capital Management LLC now owns 55,187 shares of the company’s stock worth $3,786,000 after acquiring an additional 8,432 shares in the last quarter. Bank of Montreal Can raised its stake in Ingles Markets by 82.4% during the 2nd quarter. Bank of Montreal Can now owns 5,591 shares of the company’s stock worth $398,000 after acquiring an additional 2,525 shares in the last quarter. Finally, Gabelli Funds LLC raised its stake in Ingles Markets by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 376,100 shares of the company’s stock worth $25,804,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Analysts Set New Price Targets

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

Ingles Markets Stock Up 3.1 %

IMKTA stock opened at $64.24 on Friday. The company has a market cap of $1.22 billion, a P/E ratio of 6.93 and a beta of 0.70. Ingles Markets, Incorporated has a 52 week low of $59.73 and a 52 week high of $89.59. The company’s 50-day moving average price is $70.26 and its 200 day moving average price is $72.03. The company has a current ratio of 2.99, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34.

Ingles Markets (NASDAQ:IMKTA) last announced its earnings results on Thursday, August 8th. The company reported $1.67 earnings per share (EPS) for the quarter. The company had revenue of $1.39 billion during the quarter. Ingles Markets had a net margin of 2.74% and a return on equity of 10.58%.

Ingles Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 10th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.66 annualized dividend and a yield of 1.03%. Ingles Markets’s dividend payout ratio is currently 7.12%.

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.