Evolve Private Wealth LLC Purchases Shares of 7,997 Ingles Markets, Incorporated $IMKTA

Evolve Private Wealth LLC bought a new position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) in the 1st quarter, Holdings Channel.com reports. The fund bought 7,997 shares of the company’s stock, valued at approximately $719,000.

Other large investors also recently bought and sold shares of the company. Parallel Advisors LLC grew its position in shares of Ingles Markets by 14.4% during the third quarter. Parallel Advisors LLC now owns 1,561 shares of the company’s stock worth $109,000 after buying an additional 197 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Ingles Markets by 4.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,809 shares of the company’s stock worth $330,000 after buying an additional 207 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Ingles Markets by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 5,163 shares of the company’s stock valued at $327,000 after acquiring an additional 209 shares in the last quarter. Ballentine Partners LLC raised its holdings in Ingles Markets by 4.0% in the fourth quarter. Ballentine Partners LLC now owns 5,643 shares of the company’s stock valued at $387,000 after acquiring an additional 217 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Ingles Markets by 1.5% in the third quarter. Legal & General Group Plc now owns 16,096 shares of the company’s stock worth $1,120,000 after acquiring an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Ingles Markets Stock Performance

Shares of IMKTA opened at $90.19 on Thursday. The company has a current ratio of 3.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.29. The firm has a market cap of $1.71 billion, a PE ratio of 16.43 and a beta of 0.60. The company’s 50 day simple moving average is $88.85 and its 200-day simple moving average is $83.12. Ingles Markets, Incorporated has a 12-month low of $59.27 and a 12-month high of $95.62.

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

Ingles Markets Dividend Announcement

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

Insider Transactions at Ingles Markets

In related news, Director Dwight L. Jacobs purchased 500 shares of the stock in a transaction dated 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 purchase, the director directly owned 500 shares in the company, valued at $44,035. This trade represents a ∞ increase in their position. The acquisition 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 Ratings Changes

A number of brokerages recently commented on IMKTA. Weiss Ratings upgraded shares of Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Wall Street Zen cut Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.

Ingles Markets 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.