Allspring Global Investments Holdings LLC Invests $5.85 Million in Ingles Markets, Incorporated (NASDAQ…)
November 10, 2023
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Ingles Markets ($NASDAQ:IMKTA), Incorporated (NASDAQ) has recently received a major investment from Allspring Global Investments Holdings LLC in the amount of $5.85 million. This investment is a major boost for Ingles Markets, which is a chain of regional supermarkets based in the United States. Ingles Markets also has a wide selection of convenience and specialty products, and it strives to offer customers the best shopping experience in the region. With this new investment, Ingles Markets is poised to strengthen its presence across the Southeast and to better serve its customers.
Price History
On Monday, Ingles Markets, Incorporated (NASDAQ: IMKTA) saw its stock open at $82.2 and close at $81.7, down 1.1% from its previous closing price of $82.6. This move marks a significant milestone for Ingles Markets, which supplies products and services to customers in the southeast United States. It is a sign of confidence from Allspring Global Investments Holdings LLC that the company will continue to see success in the future.
It also gives Ingles access to additional capital with which it can continue to grow and expand its business. With additional funding, the company is well-positioned to continue its trajectory of success in the years to come. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ingles Markets. More…
| Total Revenues | Net Income | Net Margin |
| 5.76k | 228.34 | 3.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ingles Markets. More…
| Operations | Investing | Financing |
| 254.87 | -65.43 | -34.75 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ingles Markets. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.41k | 999.83 | 74.09 |
Key Ratios Snapshot
Some of the financial key ratios for Ingles Markets are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.7% | 11.7% | 5.6% |
| FCF Margin | ROE | ROA |
| 1.2% | 14.7% | 8.4% |
Analysis
At GoodWhale, we conducted an analysis of INGLES MARKETS‘s financials. According to our Star Chart, INGLES MARKETS has a high health score of 10/10 with regard to its cashflows and debt, indicating that it is capable to pay off debt and fund future operations. Furthermore, GoodWhale classified INGLES MARKETS as ‘rhino’, which means that the company has achieved moderate revenue or earnings growth. Additionally, our analysis showed that INGLES MARKETS is strong in dividend and profitability, and medium in asset and growth. From our analysis, we can conclude that INGLES MARKETS is an attractive investment opportunity for investors who are looking for reliable dividend yield and a moderate growth rate. These may include income-seeking investors, retirement savers, and those looking to diversify their portfolio with a stable stock. More…
Peers
The grocery store industry is highly competitive. Ingles Markets Inc competes against PesoRama Inc, Halows Co Ltd, and X5 Retail Group NV. All of these companies are striving to be the best in the industry and offer the best products and services to their customers.
– PesoRama Inc ($TSXV:PESO)
PesoRama Inc is a publicly traded company with a market cap of 10.57M as of 2022. The company has a Return on Equity of -102.32%. PesoRama Inc is a provider of financial services. The company offers a variety of services including peso-denominated accounts, money transfers, foreign exchange, and credit products.
– Halows Co Ltd ($TSE:2742)
As of 2022, Halows Co Ltd has a market cap of 62.57B and a Return on Equity of 11.12%. The company is engaged in the business of providing software and services to the financial industry. Halows Co Ltd has a strong presence in the US, UK, Canada, and Australia. The company has a diversified product portfolio and a strong customer base.
Summary
Ingles Markets, Incorporated (NASDAQ: IMKTA) is a regional grocery store chain with locations in the southeastern United States. Allspring Global Investments Holdings LLC has a large investment in Ingles with a total stock holding of $5.85 million. Analyzing the Ingles stock chart shows a steady increase in price over the past five years. Analysts rate Ingles as a “buy” due to its strong financials and dividend payments.
In addition, the company has been expanding its retail presence and investing in new technologies. It also offers a loyalty program that rewards customers for their purchases, which drives further sales growth.
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