Its worth noting that this only works for apps, not for web shortcuts you've saved. I have a web shortcut in a Utilities folder and to the right of a Spotlight search it only shows it as a "Top Hit". Other apps in the same folder show the folder name.

I get Top Hit for IMDb which looks like an app to me. It's not opening in Safari and the app definitely is in a folder. So something else is going on. I do get the correct folder for many apps.

I would like to have this work and appreciate the hint because I hadn't noticed that the folder was identified sometimes.

Interesting, I see that too with the IMDB app. I wonder why some don't show their folders...