Ingles Markets, Incorporated (NASDAQ:IMKTA) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 49.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,652 shares of the company’s stock after acquiring an additional 18,141 shares during the period. JPMorgan Chase & Co. owned about 0.29% of Ingles Markets worth $4,077,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Ingles Markets from a “hold” rating to a “buy” rating in a report on Monday, December 30th.

Ingles Markets Stock Down 1.9 %

Shares of NASDAQ:IMKTA opened at $63.07 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.89 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1.20 billion, a P/E ratio of 11.36 and a beta of 0.76. Ingles Markets, Incorporated has a 52-week low of $59.73 and a 52-week high of $86.16. The stock’s fifty day simple moving average is $68.23 and its 200-day simple moving average is $69.82.

Ingles Markets (NASDAQ:IMKTA) last released its 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 1.87% and a return on equity of 6.90%.

Ingles Markets Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were paid a $0.165 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.66 annualized dividend and a yield of 1.05%. Ingles Markets’s payout ratio is currently 11.89%.

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.