Systematic Financial Management LP Grows Stake in Ingles Markets, Incorporated $IMKTA

Systematic Financial Management LP lifted its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 11.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 223,474 shares of the company’s stock after purchasing an additional 22,075 shares during the quarter. Systematic Financial Management LP owned about 1.18% of Ingles Markets worth $14,164,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership bought a new position in Ingles Markets in the 2nd quarter worth about $1,326,000. Brandes Investment Partners LP grew its holdings in shares of Ingles Markets by 16.5% during the second quarter. Brandes Investment Partners LP now owns 948,627 shares of the company’s stock worth $60,124,000 after purchasing an additional 134,398 shares in the last quarter. Ballast Asset Management LP grew its holdings in shares of Ingles Markets by 1.0% during the second quarter. Ballast Asset Management LP now owns 31,669 shares of the company’s stock worth $2,007,000 after purchasing an additional 306 shares in the last quarter. River Road Asset Management LLC increased its position in shares of Ingles Markets by 0.9% in the second quarter. River Road Asset Management LLC now owns 984,705 shares of the company’s stock worth $61,967,000 after purchasing an additional 8,886 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Ingles Markets in the second quarter valued at approximately $206,000. Institutional investors own 62.54% of the company’s stock.

Ingles Markets Stock Performance

NASDAQ:IMKTA opened at $77.63 on Thursday. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 17.64 and a beta of 0.76. The business has a 50 day moving average of $72.88 and a 200 day moving average of $67.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.22 and a quick ratio of 1.63. Ingles Markets, Incorporated has a 1-year low of $58.92 and a 1-year high of $78.59.

Ingles Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Thursday, October 9th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, October 9th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. Ingles Markets’s dividend payout ratio (DPR) is currently 15.00%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of Ingles Markets from a “hold” rating to a “buy” rating in a research note on Saturday, November 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingles Markets in a report on Monday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Ingles Markets currently has an average rating of “Hold”.

Ingles Markets Company Profile

Ingles Markets, Incorporated, together with its subsidiaries, operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.