Bbfit Investments PTE Ltd. Acquires New Holdings in Ingles Markets, Incorporated $IMKTA

Bbfit Investments PTE Ltd. purchased a new stake in Ingles Markets, Incorporated (NASDAQ:IMKTA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,612 shares of the company’s stock, valued at approximately $522,000. Ingles Markets comprises 0.1% of Bbfit Investments PTE Ltd.’s holdings, making the stock its 8th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Highlander Partners L.P. purchased a new stake in Ingles Markets in the fourth quarter valued at about $45,000. Eastern Bank purchased a new stake in Ingles Markets in the fourth quarter valued at about $48,000. Torren Management LLC purchased a new stake in Ingles Markets in the fourth quarter valued at about $51,000. Huntington National Bank raised its stake in Ingles Markets by 63.1% in the fourth quarter. Huntington National Bank now owns 778 shares of the company’s stock valued at $53,000 after buying an additional 301 shares during the last quarter. Finally, Financial Consulate Inc. purchased a new stake in Ingles Markets in the fourth quarter valued at about $55,000. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Ingles Markets Trading Down 1.6%

Shares of NASDAQ:IMKTA opened at $87.07 on Thursday. Ingles Markets, Incorporated has a 52-week low of $59.27 and a 52-week high of $95.62. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 15.86 and a beta of 0.60. The company has a quick ratio of 1.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $89.33 and a 200-day moving average price of $82.69.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings data 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 during the quarter.

Ingles Markets Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, April 9th. Ingles Markets’s dividend payout ratio (DPR) is presently 12.02%.

Analyst Ratings Changes

IMKTA has been the subject of a number of research analyst reports. Wall Street Zen cut Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings cut Ingles Markets from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Insider Activity

In other news, Director Dwight L. Jacobs acquired 500 shares of Ingles Markets stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average cost of $88.07 per share, for a total transaction of $44,035.00. Following the completion of the purchase, the director directly owned 500 shares in the company, valued at $44,035. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.80% of the stock is currently owned by insiders.

About Ingles Markets

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.