Creative Planning Buys 1,964 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Creative Planning lifted its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 40.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,848 shares of the company’s stock after purchasing an additional 1,964 shares during the period. Creative Planning’s holdings in Ingles Markets were worth $511,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC increased its holdings in shares of Ingles Markets by 240.9% during the 2nd quarter. CWM LLC now owns 433 shares of the company’s stock worth $30,000 after acquiring an additional 306 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Ingles Markets by 413.9% during the 3rd quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock worth $30,000 after acquiring an additional 327 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Ingles Markets by 101.0% during the 2nd quarter. Signaturefd LLC now owns 1,003 shares of the company’s stock worth $69,000 after acquiring an additional 504 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Ingles Markets during the 2nd quarter worth approximately $69,000. Finally, Innealta Capital LLC acquired a new position in shares of Ingles Markets during the 2nd quarter worth approximately $74,000. Institutional investors own 62.54% of the company’s stock.

Wall Street Analyst Weigh In

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

Ingles Markets Stock Performance

Shares of NASDAQ IMKTA opened at $67.32 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.99 and a quick ratio of 1.49. The stock’s fifty day moving average price is $68.06 and its two-hundred day moving average price is $71.02. Ingles Markets, Incorporated has a one year low of $59.73 and a one year high of $89.59. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 8.01 and a beta of 0.72.

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

Ingles Markets Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 10th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Thursday, October 10th. Ingles Markets’s dividend payout ratio is 7.86%.

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.