Allspring Global Investments Holdings LLC Acquires 16,877 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Allspring Global Investments Holdings LLC grew its holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 69.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,219 shares of the company’s stock after purchasing an additional 16,877 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.22% of Ingles Markets worth $3,161,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC lifted its position in shares of Ingles Markets by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 735 shares of the company’s stock worth $63,000 after acquiring an additional 170 shares in the last quarter. Quest Partners LLC purchased a new position in Ingles Markets during the 4th quarter valued at about $78,000. Beacon Pointe Advisors LLC bought a new stake in shares of Ingles Markets during the fourth quarter valued at about $207,000. Leuthold Group LLC purchased a new stake in shares of Ingles Markets in the fourth quarter worth about $210,000. Finally, Sapient Capital LLC bought a new position in shares of Ingles Markets in the fourth quarter valued at approximately $216,000. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ingles Markets

In related news, Director Sharp Laura Ingle sold 6,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $70.25, for a total value of $421,500.00. Following the transaction, the director now owns 14,700 shares of the company’s stock, valued at $1,032,675. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 16,700 shares of company stock valued at $1,160,640 over the last three months. 23.10% of the stock is owned by corporate insiders.

Ingles Markets Stock Performance

Ingles Markets stock opened at $68.31 on Wednesday. Ingles Markets, Incorporated has a 1-year low of $67.10 and a 1-year high of $89.59. The company has a current ratio of 3.20, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $1.30 billion, a PE ratio of 7.37 and a beta of 0.66. The firm’s 50 day simple moving average is $71.55 and its 200 day simple moving average is $76.74.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings data on Thursday, May 9th. The company reported $1.68 earnings per share (EPS) for the quarter. Ingles Markets had a return on equity of 11.97% and a net margin of 3.00%. The company had revenue of $1.37 billion during the quarter.

Ingles Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Thursday, July 11th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, July 11th. Ingles Markets’s dividend payout ratio (DPR) is 7.12%.

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.