Ameriprise Financial Inc. bought a new position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) in the third quarter, HoldingsChannel reports. The firm bought 41,567 shares of the company’s stock, valued at approximately $1,069,000.

Several other large investors also recently modified their holdings of the stock. Gamco Investors INC. ET AL boosted its position in shares of Ingles Markets by 4.0% during the third quarter. Gamco Investors INC. ET AL now owns 1,266,402 shares of the company’s stock worth $32,547,000 after acquiring an additional 48,893 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Ingles Markets by 3.3% during the second quarter. Vanguard Group Inc. now owns 1,032,352 shares of the company’s stock worth $34,378,000 after acquiring an additional 33,192 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of Ingles Markets by 0.4% during the third quarter. Gabelli Funds LLC now owns 934,600 shares of the company’s stock worth $24,019,000 after acquiring an additional 4,000 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Ingles Markets by 29.9% during the third quarter. Prudential Financial Inc. now owns 347,596 shares of the company’s stock worth $8,933,000 after acquiring an additional 79,940 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Ingles Markets by 2.3% during the second quarter. State Street Corp now owns 297,571 shares of the company’s stock worth $9,905,000 after acquiring an additional 6,560 shares during the last quarter. Hedge funds and other institutional investors own 59.40% of the company’s stock.

A number of equities analysts recently weighed in on IMKTA shares. Zacks Investment Research upgraded shares of Ingles Markets from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 4th. TheStreet upgraded shares of Ingles Markets from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Finally, BidaskClub raised shares of Ingles Markets from a “hold” rating to a “buy” rating in a research note on Tuesday, December 12th.

Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) opened at $34.40 on Friday. The stock has a market cap of $683.77, a price-to-earnings ratio of 12.93, a P/E/G ratio of 3.83 and a beta of 0.73. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.39 and a current ratio of 1.82. Ingles Markets, Incorporated has a 12 month low of $20.75 and a 12 month high of $48.80.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Thursday, January 11th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, January 10th. Ingles Markets’s payout ratio is 24.81%.

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About Ingles Markets

Ingles Markets, Incorporated (Ingles) is a supermarket chain in the southeast United States. The Company’s segments include retail grocery and other. Its other segment consists of fluid dairy operations and shopping center rentals. As of September 24, 2016, the Company operated 201 supermarkets in Georgia, North Carolina, South Carolina, Tennessee, Virginia and Alabama.

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Institutional Ownership by Quarter for Ingles Markets (NASDAQ:IMKTA)

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