Bank of Montreal Can Buys 2,525 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Bank of Montreal Can grew its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 82.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,591 shares of the company’s stock after acquiring an additional 2,525 shares during the quarter. Bank of Montreal Can’s holdings in Ingles Markets were worth $398,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. CWM LLC boosted its holdings in shares of Ingles Markets by 240.9% in the second quarter. CWM LLC now owns 433 shares of the company’s stock valued at $30,000 after buying an additional 306 shares during the period. Signaturefd LLC boosted its stake in Ingles Markets by 101.0% in the 2nd quarter. Signaturefd LLC now owns 1,003 shares of the company’s stock worth $69,000 after purchasing an additional 504 shares during the period. Canada Pension Plan Investment Board bought a new position in Ingles Markets during the 2nd quarter worth about $69,000. Innealta Capital LLC acquired a new stake in shares of Ingles Markets in the 2nd quarter valued at about $74,000. Finally, nVerses Capital LLC bought a new stake in shares of Ingles Markets in the second quarter valued at about $75,000. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Ingles Markets Trading Down 1.0 %

Shares of NASDAQ:IMKTA opened at $60.97 on Friday. Ingles Markets, Incorporated has a 52-week low of $59.73 and a 52-week high of $89.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 2.99. The company has a market capitalization of $1.16 billion, a P/E ratio of 6.58 and a beta of 0.70. The company has a 50-day simple moving average of $71.50 and a 200 day simple moving average of $72.50.

Ingles Markets (NASDAQ:IMKTA) last posted 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 announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, October 10th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Thursday, October 10th. Ingles Markets’s dividend payout ratio is presently 7.12%.

Ingles Markets Company 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.