Adams Diversified Equity Fund Inc. lifted its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 72.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,500 shares of the company’s stock after purchasing an additional 12,800 shares during the quarter. Adams Diversified Equity Fund Inc. owned 0.15% of Ingles Markets, worth $784,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Jolley Asset Management LLC purchased a new position in shares of Ingles Markets, during the second quarter worth about $233,000. FCA Corp TX grew its holdings in shares of Ingles Markets, by 0.5% during the second quarter. FCA Corp TX now owns 86,587 shares of the company’s stock worth $2,883,000 after purchasing an additional 409 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Ingles Markets, by 6.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 150,332 shares of the company’s stock worth $5,007,000 after purchasing an additional 9,387 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Ingles Markets, during the second quarter worth about $209,000. Finally, Piermont Capital Management Inc. grew its holdings in shares of Ingles Markets, by 82.8% during the second quarter. Piermont Capital Management Inc. now owns 50,851 shares of the company’s stock worth $1,693,000 after purchasing an additional 23,035 shares in the last quarter. 58.55% of the stock is owned by institutional investors.
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Ingles Markets, (NASDAQ:IMKTA) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.57 earnings per share for the quarter. The business had revenue of $984.40 million during the quarter. Ingles Markets, had a return on equity of 10.08% and a net margin of 1.26%.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 19th. Shareholders of record on Thursday, October 12th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Wednesday, October 11th. Ingles Markets,’s dividend payout ratio is presently 27.50%.
In other Ingles Markets, news, Director Sharp Laura Ingle sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $24.97, for a total transaction of $124,850.00. Following the completion of the transaction, the director now owns 2,500 shares in the company, valued at approximately $62,425. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 30.30% of the company’s stock.
Separately, Zacks Investment Research lowered Ingles Markets, from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th.
Ingles Markets, Profile
Ingles Markets, Incorporated (Ingles) is a supermarket chain in the southeast United States. The Company’s segments include retail grocery and other. Its other segment consists of fluid dairy operations and shopping center rentals. As of September 24, 2016, the Company operated 201 supermarkets in Georgia, North Carolina, South Carolina, Tennessee, Virginia and Alabama.
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