Meeder Asset Management Inc. Acquires New Shares in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Meeder Asset Management Inc. bought a new position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) in the 4th quarter, HoldingsChannel.com reports. The fund bought 465 shares of the company’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. FNY Investment Advisers LLC bought a new stake in Ingles Markets during the 4th quarter worth approximately $96,000. EntryPoint Capital LLC bought a new stake in shares of Ingles Markets in the fourth quarter worth $204,000. Captrust Financial Advisors acquired a new stake in Ingles Markets in the third quarter valued at $206,000. Intech Investment Management LLC bought a new position in Ingles Markets during the 3rd quarter worth $266,000. Finally, Exchange Traded Concepts LLC lifted its holdings in Ingles Markets by 4.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,369 shares of the company’s stock worth $282,000 after buying an additional 187 shares during the period. Institutional investors own 62.54% of the company’s stock.

Ingles Markets Trading Up 0.8 %

NASDAQ IMKTA opened at $65.64 on Thursday. Ingles Markets, Incorporated has a one year low of $58.92 and a one year high of $82.01. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.24 and a quick ratio of 1.45. The business has a 50 day simple moving average of $63.96 and a 200 day simple moving average of $66.21. The stock has a market capitalization of $1.25 billion, a P/E ratio of 15.86 and a beta of 0.71.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings results 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 will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.01%. The ex-dividend date is Thursday, April 10th. Ingles Markets’s dividend payout ratio (DPR) is presently 15.94%.

Wall Street Analysts Forecast Growth

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

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.