Maverick Capital Ltd. Purchases 2,835 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Maverick Capital Ltd. grew its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 18.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,296 shares of the company’s stock after purchasing an additional 2,835 shares during the quarter. Maverick Capital Ltd. owned about 0.10% of Ingles Markets worth $1,255,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. CWM LLC grew its position 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 purchasing an additional 306 shares in the last quarter. 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 purchased a new position in Ingles Markets during the 2nd quarter valued at about $69,000. Innealta Capital LLC bought a new stake in shares of Ingles Markets during the second quarter valued at about $74,000. Finally, nVerses Capital LLC purchased a new stake in shares of Ingles Markets in the second quarter worth about $75,000. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Ingles Markets Trading Up 1.0 %

Ingles Markets stock opened at $74.35 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. Ingles Markets, Incorporated has a fifty-two week low of $67.10 and a fifty-two week high of $89.59. The stock has a market cap of $1.41 billion, a P/E ratio of 8.02 and a beta of 0.70. The firm’s fifty day moving average price is $74.09 and its 200-day moving average price is $73.14.

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

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Thursday, July 11th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Thursday, July 11th. Ingles Markets’s dividend payout ratio (DPR) is 7.12%.

Analysts Set New Price Targets

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

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.