Franklin Resources Inc. Has $517,000 Stake in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Franklin Resources Inc. lifted its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,933 shares of the company’s stock after buying an additional 378 shares during the period. Franklin Resources Inc.’s holdings in Ingles Markets were worth $517,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Ingles Markets by 18.0% during the 2nd quarter. AQR Capital Management LLC now owns 55,187 shares of the company’s stock worth $3,786,000 after acquiring an additional 8,432 shares during the period. Brandes Investment Partners LP grew its stake in shares of Ingles Markets by 111.0% in the 2nd quarter. Brandes Investment Partners LP now owns 196,753 shares of the company’s stock valued at $13,480,000 after purchasing an additional 103,507 shares during the period. Systematic Financial Management LP raised its holdings in shares of Ingles Markets by 8.3% in the 3rd quarter. Systematic Financial Management LP now owns 196,671 shares of the company’s stock worth $14,672,000 after buying an additional 15,107 shares in the last quarter. River Road Asset Management LLC lifted its position in shares of Ingles Markets by 7.1% during the 3rd quarter. River Road Asset Management LLC now owns 971,026 shares of the company’s stock worth $72,439,000 after buying an additional 64,296 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Ingles Markets by 33.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,846 shares of the company’s stock valued at $3,271,000 after buying an additional 10,916 shares in the last quarter. 62.54% of the stock is owned by institutional investors and hedge funds.

Ingles Markets Stock Down 2.5 %

NASDAQ:IMKTA opened at $63.71 on Tuesday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 7.58 and a beta of 0.74. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 2.99. The stock’s fifty day moving average price is $68.65 and its two-hundred day moving average price is $70.35. Ingles Markets, Incorporated has a 52-week low of $59.73 and a 52-week high of $89.59.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings results on Friday, December 27th. The company reported ($0.08) earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 2.74% and a return on equity of 10.58%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Ingles Markets from a “hold” rating to a “buy” rating in a research note on Monday.

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.