Parallel Advisors LLC Purchases 2,838 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA)

Parallel Advisors LLC boosted its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 193.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,308 shares of the company’s stock after acquiring an additional 2,838 shares during the quarter. Parallel Advisors LLC’s holdings in Ingles Markets were worth $296,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IMKTA. Gamco Investors INC. ET AL lifted its position in shares of Ingles Markets by 1.2% in the first quarter. Gamco Investors INC. ET AL now owns 550,595 shares of the company’s stock worth $42,220,000 after buying an additional 6,475 shares during the last quarter. American Century Companies Inc. lifted its holdings in Ingles Markets by 9.5% in the 2nd quarter. American Century Companies Inc. now owns 369,184 shares of the company’s stock worth $25,330,000 after purchasing an additional 32,013 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Ingles Markets by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 311,124 shares of the company’s stock worth $26,872,000 after purchasing an additional 23,854 shares during the period. Bridgeway Capital Management LLC grew its holdings in Ingles Markets by 2.6% during the first quarter. Bridgeway Capital Management LLC now owns 231,074 shares of the company’s stock valued at $17,719,000 after purchasing an additional 5,950 shares during the last quarter. Finally, Empowered Funds LLC lifted 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 worth $8,252,000 after buying an additional 10,842 shares during the last quarter. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Sharp Laura Ingle sold 5,901 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $68.02, for a total transaction of $401,386.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 23.10% of the stock is owned by company insiders.

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 Thursday, September 12th.

Ingles Markets Price Performance

Shares of NASDAQ:IMKTA opened at $73.10 on Thursday. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 7.89 and a beta of 0.70. The business has a 50 day moving average price of $74.27 and a 200 day moving average price of $73.26. The company has a quick ratio of 1.49, a current ratio of 2.99 and a debt-to-equity ratio of 0.34. Ingles Markets, Incorporated has a twelve month low of $67.10 and a twelve month high of $89.59.

Ingles Markets (NASDAQ:IMKTA) last posted 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 company had revenue of $1.39 billion during the quarter.

Ingles Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Thursday, July 11th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Thursday, July 11th. Ingles Markets’s dividend payout ratio is currently 7.12%.

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.