Ingles Markets (NASDAQ:IMKTA) Reaches New 12-Month Low at $72.70

Ingles Markets, Incorporated (NASDAQ:IMKTA)’s share price reached a new 52-week low on Wednesday . The company traded as low as $72.70 and last traded at $73.17, with a volume of 5448 shares traded. The stock had previously closed at $73.10.

Analyst Ratings Changes

A number of brokerages recently commented on IMKTA. StockNews.com downgraded shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 9th. TheStreet lowered Ingles Markets from a “b” rating to a “c+” rating in a report on Monday, February 26th.

Ingles Markets Trading Up 0.0 %

The business has a 50 day moving average of $75.36 and a 200-day moving average of $80.08. The stock has a market cap of $1.39 billion, a PE ratio of 7.53 and a beta of 0.60. The company has a current ratio of 3.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.36.

Ingles Markets (NASDAQ:IMKTA) last released its earnings results on Thursday, February 8th. The company reported $2.28 earnings per share (EPS) for the quarter. The company had revenue of $1.48 billion for the quarter. Ingles Markets had a net margin of 3.14% and a return on equity of 12.92%.

Ingles Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, April 11th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Wednesday, April 10th. Ingles Markets’s dividend payout ratio (DPR) is presently 6.79%.

Insider Activity at Ingles Markets

In related news, Director Sharp Laura Ingle sold 4,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $76.25, for a total transaction of $305,000.00. Following the sale, the director now directly owns 20,700 shares in the company, valued at approximately $1,578,375. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 8,000 shares of company stock worth $607,000. 23.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ingles Markets

Institutional investors and hedge funds have recently made changes to their positions in the business. Exchange Traded Concepts LLC raised its stake in Ingles Markets by 12.3% during the third quarter. Exchange Traded Concepts LLC now owns 4,964 shares of the company’s stock valued at $374,000 after buying an additional 543 shares in the last quarter. Denali Advisors LLC lifted its stake in Ingles Markets by 15.6% during the third quarter. Denali Advisors LLC now owns 54,487 shares of the company’s stock worth $4,105,000 after purchasing an additional 7,338 shares during the last quarter. SkyOak Wealth LLC boosted its holdings in Ingles Markets by 13.2% in the third quarter. SkyOak Wealth LLC now owns 3,176 shares of the company’s stock worth $239,000 after purchasing an additional 371 shares during the period. Bank of New York Mellon Corp increased its stake in Ingles Markets by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 130,223 shares of the company’s stock valued at $9,810,000 after purchasing an additional 2,064 shares during the last quarter. Finally, Baker Ellis Asset Management LLC raised its holdings in shares of Ingles Markets by 1.1% during the third quarter. Baker Ellis Asset Management LLC now owns 45,830 shares of the company’s stock worth $3,452,000 after purchasing an additional 500 shares during the period. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Ingles Markets Company Profile

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.