Brandes Investment Partners LP Increases Stake in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Brandes Investment Partners LP boosted its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 111.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,753 shares of the company’s stock after acquiring an additional 103,507 shares during the period. Brandes Investment Partners LP’s holdings in Ingles Markets were worth $13,480,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IMKTA. Systematic Financial Management LP raised its holdings in Ingles Markets by 103.1% during the second quarter. Systematic Financial Management LP now owns 181,564 shares of the company’s stock valued at $12,457,000 after acquiring an additional 92,164 shares during the period. American Century Companies Inc. boosted its stake in Ingles Markets by 9.5% in the second quarter. American Century Companies Inc. now owns 369,184 shares of the company’s stock valued at $25,330,000 after acquiring an additional 32,013 shares in the last quarter. Denali Advisors LLC grew its position in Ingles Markets by 40.6% during the 2nd quarter. Denali Advisors LLC now owns 92,102 shares of the company’s stock worth $6,319,000 after purchasing an additional 26,607 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Ingles Markets in the 4th quarter worth approximately $1,574,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Ingles Markets by 69.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 41,219 shares of the company’s stock valued at $3,161,000 after buying an additional 16,877 shares during the period. 62.54% of the stock is owned by hedge funds and other institutional investors.

Ingles Markets Stock Performance

Shares of IMKTA opened at $74.35 on Monday. The company has a quick ratio of 1.49, a current ratio of 2.99 and a debt-to-equity ratio of 0.34. Ingles Markets, Incorporated has a 52-week low of $67.10 and a 52-week high of $89.59. The company has a 50-day simple moving average of $74.07 and a 200-day simple moving average of $73.13. The company has a market capitalization of $1.41 billion, a PE ratio of 8.02 and a beta of 0.70.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings data 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 firm had revenue of $1.39 billion during the quarter.

Analyst Upgrades and Downgrades

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

Ingles Markets 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.