Inspire Investing LLC Has $355,000 Stock Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Inspire Investing LLC lifted its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 9.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,170 shares of the company’s stock after buying an additional 447 shares during the quarter. Inspire Investing LLC’s holdings in Ingles Markets were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Ingles Markets by 18.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,116 shares of the company’s stock worth $214,000 after buying an additional 484 shares during the last quarter. Denali Advisors LLC increased its position in Ingles Markets by 40.6% during the second quarter. Denali Advisors LLC now owns 92,102 shares of the company’s stock worth $6,319,000 after acquiring an additional 26,607 shares during the period. Parallel Advisors LLC increased its position in Ingles Markets by 193.1% during the second quarter. Parallel Advisors LLC now owns 4,308 shares of the company’s stock worth $296,000 after acquiring an additional 2,838 shares during the period. American Century Companies Inc. increased its position in Ingles Markets by 9.5% during the second quarter. American Century Companies Inc. now owns 369,184 shares of the company’s stock worth $25,330,000 after acquiring an additional 32,013 shares during the period. Finally, Ballentine Partners LLC bought a new position in Ingles Markets during the second quarter worth $288,000. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ingles Markets

In other news, Director Sharp Laura Ingle sold 5,901 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $68.02, for a total value of $401,386.02. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 23.10% of the company’s stock.

Ingles Markets Trading Down 0.6 %

Shares of IMKTA stock opened at $73.04 on Friday. Ingles Markets, Incorporated has a 1 year low of $67.10 and a 1 year high of $89.59. The firm’s fifty day simple moving average is $74.26 and its 200 day simple moving average is $73.21. The firm has a market capitalization of $1.39 billion, a P/E ratio of 7.88 and a beta of 0.70. The company has a current ratio of 2.99, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34.

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

Ingles Markets Dividend Announcement

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

Wall Street Analyst Weigh In

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

Ingles Markets Company 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.