Bbfit Investments PTE Ltd. Purchases New Position in Ingles Markets, Incorporated $IMKTA

Bbfit Investments PTE Ltd. purchased a new stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 7,612 shares of the company’s stock, valued at approximately $522,000. Ingles Markets comprises approximately 0.1% of Bbfit Investments PTE Ltd.’s holdings, making the stock its 8th largest holding.

Several other institutional investors also recently bought and sold shares of IMKTA. Royal Bank of Canada raised its position in Ingles Markets by 15.4% during the first quarter. Royal Bank of Canada now owns 19,083 shares of the company’s stock valued at $1,243,000 after acquiring an additional 2,544 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 valued at $561,000 after acquiring an additional 385 shares in the last quarter. Jane Street Group LLC raised its position in Ingles Markets by 275.9% during the first quarter. Jane Street Group LLC now owns 30,644 shares of the company’s stock valued at $1,996,000 after acquiring an additional 22,492 shares in the last quarter. Cetera Investment Advisers raised its position in Ingles Markets by 17.3% during the second quarter. Cetera Investment Advisers now owns 4,351 shares of the company’s stock valued at $276,000 after acquiring an additional 641 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Ingles Markets by 19.2% during the second quarter. Russell Investments Group Ltd. now owns 3,155 shares of the company’s stock valued at $200,000 after acquiring an additional 509 shares in the last quarter. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wall Street Zen cut Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings cut Ingles Markets from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Insider Activity at Ingles Markets

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

Ingles Markets Stock Down 1.6%

Ingles Markets stock opened at $87.07 on Thursday. The stock has a market capitalization of $1.65 billion, a PE ratio of 15.86 and a beta of 0.60. Ingles Markets, Incorporated has a 12 month low of $59.27 and a 12 month high of $95.62. The business has a 50 day simple moving average of $89.33 and a 200-day simple moving average of $82.69. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.34 and a quick ratio of 1.77.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.28 EPS for the quarter. The business had revenue of $1.31 billion during the quarter. Ingles Markets had a return on equity of 6.41% and a net margin of 1.93%.

Ingles Markets Dividend Announcement

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

Ingles Markets Profile

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.