Metropolitan Life Insurance Co. NY Grows Holdings in Ingles Markets, Incorporated (IMKTA)

Metropolitan Life Insurance Co. NY boosted its holdings in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) by 313.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,706 shares of the company’s stock after buying an additional 3,568 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Ingles Markets were worth $128,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in Ingles Markets by 35.2% in the fourth quarter. Bank of America Corp DE now owns 70,121 shares of the company’s stock valued at $1,908,000 after purchasing an additional 18,246 shares in the last quarter. Two Sigma Investments LP raised its stake in Ingles Markets by 5.9% in the fourth quarter. Two Sigma Investments LP now owns 42,633 shares of the company’s stock valued at $1,160,000 after purchasing an additional 2,372 shares in the last quarter. Stone Ridge Asset Management LLC raised its stake in Ingles Markets by 12.4% in the fourth quarter. Stone Ridge Asset Management LLC now owns 15,953 shares of the company’s stock valued at $434,000 after purchasing an additional 1,761 shares in the last quarter. Brandywine Global Investment Management LLC raised its stake in Ingles Markets by 5.3% in the fourth quarter. Brandywine Global Investment Management LLC now owns 7,570 shares of the company’s stock valued at $207,000 after purchasing an additional 380 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Ingles Markets by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 271,037 shares of the company’s stock valued at $7,377,000 after purchasing an additional 14,039 shares in the last quarter. Hedge funds and other institutional investors own 63.11% of the company’s stock.

IMKTA stock opened at $28.00 on Friday. The company has a market cap of $567.25 million, a price-to-earnings ratio of 5.82, a price-to-earnings-growth ratio of 0.98 and a beta of 0.64. Ingles Markets, Incorporated has a one year low of $25.57 and a one year high of $37.65. The company has a current ratio of 1.92, a quick ratio of 0.45 and a debt-to-equity ratio of 1.41.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings results on Thursday, February 7th. The company reported $1.09 EPS for the quarter. The firm had revenue of $1.06 billion for the quarter. Ingles Markets had a net margin of 1.80% and a return on equity of 11.64%. On average, analysts anticipate that Ingles Markets, Incorporated will post 3.3 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Thursday, April 11th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Wednesday, April 10th. Ingles Markets’s dividend payout ratio (DPR) is presently 13.72%.

In other Ingles Markets news, Director Sharp Laura Ingle sold 2,500 shares of Ingles Markets stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $27.39, for a total transaction of $68,475.00. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at $684,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 29.30% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. BidaskClub raised shares of Ingles Markets from a “sell” rating to a “hold” rating in a research note on Thursday. ValuEngine downgraded shares of Ingles Markets from a “sell” rating to a “strong sell” rating in a research note on Friday, March 15th. TheStreet raised shares of Ingles Markets from a “c+” rating to a “b-” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research downgraded shares of Ingles Markets from a “buy” rating to a “hold” rating in a research note on Wednesday, February 13th.

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About Ingles Markets

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: Limitations of the P/E Growth ratio

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

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