VELA Investment Management LLC Has $1.74 Million Stock Position in Ingles Markets, Incorporated $IMKTA

VELA Investment Management LLC lifted its stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 72.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,065 shares of the company’s stock after buying an additional 10,549 shares during the period. VELA Investment Management LLC owned about 0.13% of Ingles Markets worth $1,744,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Huntington National Bank grew its position in Ingles Markets by 45,500.0% in the second quarter. Huntington National Bank now owns 456 shares of the company’s stock valued at $29,000 after acquiring an additional 455 shares during the period. Signaturefd LLC boosted its stake in shares of Ingles Markets by 82.5% in the 2nd quarter. Signaturefd LLC now owns 522 shares of the company’s stock valued at $33,000 after purchasing an additional 236 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Ingles Markets in the 3rd quarter worth about $38,000. First Horizon Advisors Inc. grew its holdings in shares of Ingles Markets by 192.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 632 shares of the company’s stock worth $40,000 after purchasing an additional 416 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Ingles Markets by 221.6% in the 3rd quarter. CWM LLC now owns 1,177 shares of the company’s stock worth $82,000 after purchasing an additional 811 shares during the last quarter. Institutional investors own 62.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Ingles Markets in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Ingles Markets from a “hold” rating to a “buy” rating in a research note on Saturday, November 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Ingles Markets Trading Up 1.3%

IMKTA opened at $71.35 on Thursday. The company has a current ratio of 3.22, a quick ratio of 1.63 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $1.35 billion, a PE ratio of 16.22 and a beta of 0.75. Ingles Markets, Incorporated has a 1-year low of $58.92 and a 1-year high of $78.59. The firm has a 50-day moving average price of $72.26 and a two-hundred day moving average price of $69.82.

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Thursday, January 8th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, January 8th. Ingles Markets’s payout ratio is 15.00%.

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.