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

VELA Investment Management LLC boosted its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 72.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 25,065 shares of the company’s stock after buying an additional 10,549 shares during the quarter. VELA Investment Management LLC’s holdings in Ingles Markets were worth $1,744,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in Ingles Markets by 15.4% during the 1st quarter. Royal Bank of Canada now owns 19,083 shares of the company’s stock valued at $1,243,000 after purchasing an additional 2,544 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Ingles Markets by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,617 shares of the company’s stock worth $561,000 after buying an additional 385 shares during the last quarter. Jane Street Group LLC lifted its holdings in Ingles Markets by 275.9% in the first quarter. Jane Street Group LLC now owns 30,644 shares of the company’s stock valued at $1,996,000 after buying an additional 22,492 shares during the period. Ballentine Partners LLC bought a new position in Ingles Markets in the second quarter valued at approximately $344,000. Finally, Significant Wealth Partners LLC grew its holdings in Ingles Markets by 2.8% during the 2nd quarter. Significant Wealth Partners LLC now owns 7,390 shares of the company’s stock worth $468,000 after acquiring an additional 204 shares during the period. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Ingles Markets Price Performance

Shares of NASDAQ IMKTA opened at $71.35 on Thursday. The firm has a market cap of $1.35 billion, a PE ratio of 16.22 and a beta of 0.75. The company has a fifty day moving average price of $72.26 and a 200 day moving average price of $69.82. Ingles Markets, Incorporated has a 1-year low of $58.92 and a 1-year high of $78.59. The company has a current ratio of 3.22, a quick ratio of 1.63 and a debt-to-equity ratio of 0.31.

Ingles Markets Dividend Announcement

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

Analyst Ratings Changes

IMKTA has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Ingles Markets in a research note on Monday, December 29th. Wall Street Zen upgraded Ingles Markets from a “hold” rating to a “buy” rating in a research report on Saturday, November 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

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.