Allspring Global Investments Holdings LLC Raises Stock Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Allspring Global Investments Holdings LLC grew its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 69.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 41,219 shares of the company’s stock after purchasing an additional 16,877 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ingles Markets were worth $3,161,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in IMKTA. Deutsche Bank AG raised its position in Ingles Markets by 12.2% in the third quarter. Deutsche Bank AG now owns 7,441 shares of the company’s stock valued at $561,000 after purchasing an additional 807 shares during the period. Rhumbline Advisers raised its holdings in Ingles Markets by 25.2% in the 3rd quarter. Rhumbline Advisers now owns 28,795 shares of the company’s stock valued at $2,169,000 after buying an additional 5,787 shares during the period. Trexquant Investment LP acquired a new position in Ingles Markets in the third quarter valued at about $1,357,000. Qube Research & Technologies Ltd boosted its stake in Ingles Markets by 26.2% during the third quarter. Qube Research & Technologies Ltd now owns 74,002 shares of the company’s stock worth $5,575,000 after buying an additional 15,383 shares during the period. Finally, Caxton Associates LP acquired a new stake in shares of Ingles Markets during the third quarter valued at about $224,000. Institutional investors and hedge funds own 62.54% of the company’s stock.

Ingles Markets Price Performance

Ingles Markets stock opened at $68.31 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 3.20. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 7.37 and a beta of 0.66. The company’s 50 day simple moving average is $71.55 and its 200-day simple moving average is $76.74. Ingles Markets, Incorporated has a 1 year low of $67.10 and a 1 year high of $89.59.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings results on Thursday, May 9th. The company reported $1.68 EPS for the quarter. Ingles Markets had a return on equity of 11.97% and a net margin of 3.00%. The company had revenue of $1.37 billion for the quarter.

Ingles Markets Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Thursday, July 11th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.97%. The ex-dividend date is Thursday, July 11th. Ingles Markets’s dividend payout ratio is currently 7.12%.

Insiders Place Their Bets

In other Ingles Markets news, Director Sharp Laura Ingle sold 4,799 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $70.38, for a total transaction of $337,753.62. Following the sale, the director now directly owns 5,901 shares in the company, valued at approximately $415,312.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold 16,700 shares of company stock worth $1,160,640 over the last three months. Company insiders own 23.10% of the company’s stock.

Ingles Markets Profile

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.