River Road Asset Management LLC Raises Stock Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

River Road Asset Management LLC lifted its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 976,424 shares of the company’s stock after buying an additional 5,398 shares during the period. River Road Asset Management LLC owned approximately 5.14% of Ingles Markets worth $62,921,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IMKTA. FNY Investment Advisers LLC purchased a new stake in Ingles Markets during the 4th quarter worth approximately $96,000. Caprock Group LLC purchased a new stake in Ingles Markets during the 3rd quarter worth approximately $203,000. Captrust Financial Advisors purchased a new stake in Ingles Markets during the 3rd quarter worth approximately $206,000. Intech Investment Management LLC purchased a new stake in Ingles Markets during the 3rd quarter worth approximately $266,000. Finally, Virtu Financial LLC purchased a new stake in Ingles Markets during the 3rd quarter worth approximately $318,000. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ingles Markets Stock Up 1.8 %

NASDAQ:IMKTA opened at $63.99 on Tuesday. The company has a market cap of $1.22 billion, a PE ratio of 15.46 and a beta of 0.71. Ingles Markets, Incorporated has a twelve month low of $58.92 and a twelve month high of $82.01. The company has a current ratio of 3.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average is $64.24 and its two-hundred day moving average is $67.36.

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

Ingles Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, January 10th. Ingles Markets’s dividend payout ratio (DPR) 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.