Connor Clark & Lunn Investment Management Ltd. Has $3.29 Million Holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 16.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,120 shares of the company’s stock after buying an additional 7,274 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.27% of Ingles Markets worth $3,294,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Avidian Wealth Enterprises LLC lifted its stake in Ingles Markets by 2.1% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 7,443 shares of the company’s stock valued at $480,000 after buying an additional 150 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Ingles Markets by 4.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,369 shares of the company’s stock valued at $282,000 after acquiring an additional 187 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Ingles Markets by 7.5% in the 4th quarter. Ballentine Partners LLC now owns 4,523 shares of the company’s stock valued at $291,000 after acquiring an additional 314 shares during the period. Franklin Resources Inc. boosted its stake in Ingles Markets by 5.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,933 shares of the company’s stock worth $517,000 after acquiring an additional 378 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ingles Markets by 3.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,830 shares of the company’s stock valued at $1,852,000 after purchasing an additional 712 shares in the last quarter. 62.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Ingles Markets from a “buy” rating to a “hold” rating in a research report on Monday, February 10th.

Ingles Markets Stock Up 1.6 %

NASDAQ:IMKTA opened at $62.56 on Tuesday. Ingles Markets, Incorporated has a 1 year low of $58.92 and a 1 year high of $82.01. The stock has a 50-day moving average price of $64.03 and a two-hundred day moving average price of $66.97. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 15.11 and a beta of 0.71. The company has a current ratio of 3.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.33.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter. Ingles Markets had a return on equity of 5.09% and a net margin of 1.45%.

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.05%. Ingles Markets’s payout ratio is 15.94%.

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.