Summit Global Investments Makes New $385,000 Investment in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Summit Global Investments bought a new stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) in the fourth quarter, Holdings Channel reports. The institutional investor bought 5,970 shares of the company’s stock, valued at approximately $385,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Brandes Investment Partners LP lifted its position in Ingles Markets by 42.4% during the 4th quarter. Brandes Investment Partners LP now owns 533,982 shares of the company’s stock worth $34,410,000 after buying an additional 159,097 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Ingles Markets during the fourth quarter worth approximately $3,559,000. Charles Schwab Investment Management Inc. grew its stake in shares of Ingles Markets by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,558 shares of the company’s stock valued at $29,227,000 after purchasing an additional 48,000 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Ingles Markets by 62.4% in the fourth quarter. Teacher Retirement System of Texas now owns 119,748 shares of the company’s stock valued at $7,717,000 after purchasing an additional 46,025 shares in the last quarter. Finally, Barclays PLC raised its position in Ingles Markets by 346.2% in the 3rd quarter. Barclays PLC now owns 23,689 shares of the company’s stock worth $1,768,000 after purchasing an additional 18,380 shares during the last quarter. 62.54% of the stock is owned by institutional investors and hedge funds.

Ingles Markets Price Performance

Ingles Markets stock opened at $61.70 on Tuesday. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 14.90 and a beta of 0.71. Ingles Markets, Incorporated has a 12-month low of $58.92 and a 12-month high of $82.01. The company has a quick ratio of 1.45, a current ratio of 3.24 and a debt-to-equity ratio of 0.33. The business’s 50-day simple moving average is $63.90 and its 200 day simple moving average is $66.57.

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

Ingles Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Friday, January 10th. Ingles Markets’s dividend payout ratio is presently 15.94%.

Wall Street Analyst Weigh In

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

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.