Avidian Wealth Enterprises LLC Has $544,000 Stock Holdings in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Avidian Wealth Enterprises LLC lessened its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 27.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,293 shares of the company’s stock after selling 2,783 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Ingles Markets were worth $544,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. CWM LLC increased its stake in Ingles Markets by 240.9% during the 2nd quarter. CWM LLC now owns 433 shares of the company’s stock worth $30,000 after purchasing an additional 306 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Ingles Markets by 413.9% during the third quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock worth $30,000 after acquiring an additional 327 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Ingles Markets by 101.0% during the second quarter. Signaturefd LLC now owns 1,003 shares of the company’s stock worth $69,000 after acquiring an additional 504 shares during the period. Canada Pension Plan Investment Board bought a new stake in Ingles Markets in the 2nd quarter valued at $69,000. Finally, Innealta Capital LLC acquired a new position in Ingles Markets in the 2nd quarter worth $74,000. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com cut Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 21st.

Ingles Markets Stock Performance

Shares of IMKTA stock opened at $71.04 on Friday. Ingles Markets, Incorporated has a 12 month low of $59.73 and a 12 month high of $89.59. The company’s fifty day simple moving average is $67.97 and its 200-day simple moving average is $71.02. The firm has a market cap of $1.35 billion, a PE ratio of 8.46 and a beta of 0.72. The company has a quick ratio of 1.49, a current ratio of 2.99 and a debt-to-equity ratio of 0.34.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.67 EPS for the quarter. The company had revenue of $1.39 billion during the quarter. Ingles Markets had a net margin of 2.74% and a return on equity of 10.58%.

Ingles Markets Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 10th were paid a $0.165 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.66 dividend on an annualized basis and a yield of 0.93%. Ingles Markets’s dividend payout ratio is 7.86%.

About Ingles Markets

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.