Denali Advisors LLC Grows Stake in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Denali Advisors LLC increased its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 20.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,495 shares of the company’s stock after acquiring an additional 10,919 shares during the period. Ingles Markets makes up approximately 1.5% of Denali Advisors LLC’s investment portfolio, making the stock its 18th biggest position. Denali Advisors LLC owned 0.34% of Ingles Markets worth $5,022,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new position in Ingles Markets in the fourth quarter worth about $1,574,000. GSA Capital Partners LLP bought a new stake in Ingles Markets in the third quarter worth about $1,382,000. American Century Companies Inc. lifted its stake in Ingles Markets by 9.5% in the third quarter. American Century Companies Inc. now owns 257,857 shares of the company’s stock worth $19,424,000 after purchasing an additional 22,400 shares during the last quarter. Sapient Capital LLC bought a new stake in Ingles Markets in the fourth quarter worth about $216,000. Finally, Trexquant Investment LP bought a new stake in Ingles Markets in the third quarter worth about $1,357,000. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Insider Buying and Selling

In other Ingles Markets news, Director Sharp Laura Ingle sold 4,799 shares of Ingles Markets stock in a transaction on Monday, June 24th. The shares were sold at an average price of $70.38, for a total value of $337,753.62. Following the transaction, the director now directly owns 5,901 shares of the company’s stock, valued at $415,312.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 16,700 shares of company stock valued at $1,160,640 over the last 90 days. Corporate insiders own 23.10% of the company’s stock.

Ingles Markets Trading Down 0.4 %

NASDAQ IMKTA traded down $0.29 during trading on Wednesday, hitting $68.02. The stock had a trading volume of 43,029 shares, compared to its average volume of 84,547. The stock has a 50 day simple moving average of $71.55 and a 200 day simple moving average of $76.74. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 3.20. Ingles Markets, Incorporated has a one year low of $67.10 and a one year high of $89.59. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 7.37 and a beta of 0.66.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings results on Thursday, May 9th. The company reported $1.68 earnings per share for the quarter. Ingles Markets had a net margin of 3.00% and a return on equity of 11.97%. The firm had revenue of $1.37 billion during the quarter.

Ingles Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Thursday, July 11th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, July 11th. Ingles Markets’s dividend payout ratio (DPR) is 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.