Rhumbline Advisers Purchases 621 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Rhumbline Advisers lifted its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,577 shares of the company’s stock after buying an additional 621 shares during the quarter. Rhumbline Advisers owned about 0.16% of Ingles Markets worth $2,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of IMKTA. Gamco Investors INC. ET AL grew its holdings in shares of Ingles Markets by 1.2% during the first quarter. Gamco Investors INC. ET AL now owns 550,595 shares of the company’s stock valued at $42,220,000 after buying an additional 6,475 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Ingles Markets by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 311,124 shares of the company’s stock worth $26,872,000 after acquiring an additional 23,854 shares during the period. Bridgeway Capital Management LLC raised its position in Ingles Markets by 2.6% in the first quarter. Bridgeway Capital Management LLC now owns 231,074 shares of the company’s stock worth $17,719,000 after acquiring an additional 5,950 shares during the period. Empowered Funds LLC raised its position in Ingles Markets by 11.2% in the first quarter. Empowered Funds LLC now owns 107,622 shares of the company’s stock worth $8,252,000 after acquiring an additional 10,842 shares during the period. Finally, Denali Advisors LLC raised its position in Ingles Markets by 20.0% in the first quarter. Denali Advisors LLC now owns 65,495 shares of the company’s stock worth $5,022,000 after acquiring an additional 10,919 shares during the period. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th.

Insider Transactions at Ingles Markets

In related news, Director Sharp Laura Ingle sold 5,901 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $68.02, for a total transaction of $401,386.02. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 23.10% of the company’s stock.

Ingles Markets Stock Performance

Shares of NASDAQ IMKTA opened at $73.50 on Friday. 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 cap of $1.40 billion, a P/E ratio of 7.93 and a beta of 0.70. The firm’s fifty day moving average is $74.28 and its two-hundred day moving average is $73.26. Ingles Markets, Incorporated has a 52-week low of $67.10 and a 52-week high of $89.59.

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

Ingles Markets Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Thursday, July 11th were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.90%. Ingles Markets’s dividend payout ratio (DPR) is presently 7.12%.

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.