Raymond James Financial Inc. Takes Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Raymond James Financial Inc. purchased a new position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 55,235 shares of the company’s stock, valued at approximately $3,559,000. Raymond James Financial Inc. owned 0.29% of Ingles Markets as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Ingles Markets by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 453,558 shares of the company’s stock worth $29,227,000 after acquiring an additional 48,000 shares during the period. Geode Capital Management LLC grew its position in shares of Ingles Markets by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 399,190 shares of the company’s stock valued at $29,785,000 after purchasing an additional 14,264 shares in the last quarter. Systematic Financial Management LP grew its position in shares of Ingles Markets by 8.3% during 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. Empowered Funds LLC increased its holdings in shares of Ingles Markets by 13.1% in the fourth quarter. Empowered Funds LLC now owns 104,366 shares of the company’s stock worth $6,725,000 after purchasing an additional 12,084 shares during the period. Finally, Denali Advisors LLC raised its position in shares of Ingles Markets by 3.5% in the fourth quarter. Denali Advisors LLC now owns 100,708 shares of the company’s stock worth $6,490,000 after buying an additional 3,400 shares in the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Ingles Markets from a “buy” rating to a “hold” rating in a research report on Monday, February 10th.

Ingles Markets Stock Performance

NASDAQ:IMKTA opened at $64.56 on Friday. Ingles Markets, Incorporated has a 1-year low of $58.92 and a 1-year high of $82.01. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.24 and a quick ratio of 1.45. The business has a 50 day moving average of $63.84 and a 200 day moving average of $66.46. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 15.59 and a beta of 0.71.

Ingles Markets (NASDAQ:IMKTA) last released its earnings results on Thursday, February 6th. The company reported $0.87 earnings per share for the quarter. Ingles Markets had a return on equity of 5.09% and a net margin of 1.45%.

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Friday, January 10th. Ingles Markets’s payout ratio is currently 15.94%.

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.