Creative Planning Has $511,000 Stock Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Creative Planning raised its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 40.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,848 shares of the company’s stock after purchasing an additional 1,964 shares during the quarter. Creative Planning’s holdings in Ingles Markets were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in shares of Ingles Markets by 26.5% in the first quarter. BNP Paribas Financial Markets now owns 16,727 shares of the company’s stock valued at $1,283,000 after acquiring an additional 3,506 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Ingles Markets by 4.4% in the first quarter. Janney Montgomery Scott LLC now owns 17,252 shares of the company’s stock valued at $1,323,000 after acquiring an additional 731 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Ingles Markets in the first quarter valued at approximately $335,000. Empowered Funds LLC raised its stake in shares of Ingles Markets by 11.2% in the first quarter. Empowered Funds LLC now owns 107,622 shares of the company’s stock valued at $8,252,000 after acquiring an additional 10,842 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Ingles Markets in the first quarter valued at approximately $638,000. 62.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Ingles Markets Price Performance

Ingles Markets stock opened at $67.32 on Wednesday. The firm has a market capitalization of $1.28 billion, a P/E ratio of 8.01 and a beta of 0.72. Ingles Markets, Incorporated has a 1 year low of $59.73 and a 1 year high of $89.59. The business has a 50-day moving average of $68.06 and a 200-day moving average of $71.02. 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 released 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 business had revenue of $1.39 billion for the quarter.

Ingles Markets Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 10th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Thursday, October 10th. Ingles Markets’s dividend payout ratio (DPR) is presently 7.86%.

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.