Hsbc Holdings PLC Takes Position in Ingles Markets, Incorporated $IMKTA

Hsbc Holdings PLC purchased a new position in Ingles Markets, Incorporated (NASDAQ:IMKTA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,622 shares of the company’s stock, valued at approximately $955,000. Hsbc Holdings PLC owned about 0.06% of Ingles Markets at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of IMKTA. Global Trust Asset Management LLC purchased a new stake in Ingles Markets during the first quarter valued at $38,000. Highlander Partners L.P. bought a new stake in shares of Ingles Markets during the 4th quarter valued at about $45,000. Eastern Bank bought a new stake in shares of Ingles Markets during the 4th quarter valued at about $48,000. Torren Management LLC bought a new stake in shares of Ingles Markets during the 4th quarter valued at about $51,000. Finally, Huntington National Bank increased its position in shares of Ingles Markets by 63.1% during the 4th quarter. Huntington National Bank now owns 778 shares of the company’s stock valued at $53,000 after purchasing an additional 301 shares during the last quarter. Institutional investors own 62.54% of the company’s stock.

Ingles Markets Price Performance

NASDAQ IMKTA opened at $89.97 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.77 and a current ratio of 3.34. The business’s fifty day moving average is $89.46 and its 200 day moving average is $86.31. The company has a market capitalization of $1.71 billion, a PE ratio of 16.39 and a beta of 0.61. Ingles Markets, Incorporated has a fifty-two week low of $59.27 and a fifty-two week high of $95.62.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.28 EPS for the quarter. The firm had revenue of $1.31 billion for the quarter. Ingles Markets had a return on equity of 6.41% and a net margin of 1.93%.

Ingles Markets Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 9th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, July 9th. Ingles Markets’s dividend payout ratio is presently 12.02%.

Insider Transactions at Ingles Markets

In other Ingles Markets news, Director Dwight L. Jacobs purchased 500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $88.07 per share, with a total value of $44,035.00. Following the completion of the acquisition, the director directly owned 500 shares in the company, valued at $44,035. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 22.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IMKTA. Weiss Ratings upgraded shares of Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Wall Street Zen lowered shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Ingles Markets Company Profile

Ingles Markets, Inc (NASDAQ: IMKTA) is a family?owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.

In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.