Swiss National Bank increased its stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 8.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,700 shares of the company’s stock after purchasing an additional 1,800 shares during the quarter. Swiss National Bank owned 0.12% of Ingles Markets worth $738,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First Trust Advisors LP lifted its holdings in shares of Ingles Markets by 2.4% during the first quarter. First Trust Advisors LP now owns 26,086 shares of the company’s stock worth $720,000 after purchasing an additional 608 shares during the period. New York State Teachers Retirement System acquired a new stake in Ingles Markets in the second quarter valued at $37,000. Baker Ellis Asset Management LLC lifted its holdings in Ingles Markets by 5.0% in the first quarter. Baker Ellis Asset Management LLC now owns 34,952 shares of the company’s stock valued at $965,000 after acquiring an additional 1,650 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Ingles Markets by 49,133.3% in the first quarter. BNP Paribas Arbitrage SA now owns 2,954 shares of the company’s stock valued at $82,000 after acquiring an additional 2,948 shares during the period. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in Ingles Markets by 6.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 64,110 shares of the company’s stock valued at $1,996,000 after acquiring an additional 3,990 shares during the period. 65.03% of the stock is owned by hedge funds and other institutional investors.

IMKTA has been the subject of a number of recent analyst reports. Zacks Investment Research raised Ingles Markets from a “hold” rating to a “strong-buy” rating and set a $39.00 target price for the company in a report on Wednesday, August 14th. BidaskClub raised Ingles Markets from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 10th. Finally, ValuEngine raised Ingles Markets from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 9th.

Ingles Markets stock traded up $0.49 during midday trading on Friday, reaching $42.49. The company’s stock had a trading volume of 12,438 shares, compared to its average volume of 110,429. Ingles Markets, Incorporated has a fifty-two week low of $25.57 and a fifty-two week high of $43.65. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.47 and a current ratio of 2.06. The stock’s 50 day simple moving average is $35.52 and its 200 day simple moving average is $31.16. The firm has a market capitalization of $841.56 million, a PE ratio of 8.83, a P/E/G ratio of 0.73 and a beta of 0.37.

Ingles Markets (NASDAQ:IMKTA) last released its earnings results on Thursday, August 8th. The company reported $1.16 EPS for the quarter. Ingles Markets had a return on equity of 12.75% and a net margin of 1.89%. The company had revenue of $1.06 billion during the quarter. Equities analysts predict that Ingles Markets, Incorporated will post 3.9 earnings per share for the current year.

In other news, Director Sharp Laura Ingle sold 5,000 shares of Ingles Markets stock in a transaction on Monday, September 9th. The stock was sold at an average price of $41.04, for a total transaction of $205,200.00. Following the completion of the transaction, the director now owns 13,712 shares of the company’s stock, valued at approximately $562,740.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 16,288 shares of company stock valued at $572,134 in the last ninety days. Corporate insiders own 29.50% of the company’s stock.

Ingles Markets Profile

Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. Its supermarkets offer various food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, such as fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.

Further Reading: How can investors benefit from after-hours trading?

Want to see what other hedge funds are holding IMKTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingles Markets, Incorporated (NASDAQ:IMKTA).

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

Receive News & Ratings for Ingles Markets Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingles Markets and related companies with MarketBeat.com's FREE daily email newsletter.