Dwight Jacobs Acquires 500 Shares of Ingles Markets (NASDAQ:IMKTA) Stock

Ingles Markets, Incorporated (NASDAQ:IMKTA) Director Dwight Jacobs purchased 500 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $88.07 per share, with a total value of $44,035.00. Following the completion of the purchase, the director owned 500 shares of the company’s stock, valued at $44,035. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Ingles Markets Price Performance

Shares of Ingles Markets stock opened at $88.42 on Friday. The stock has a 50 day moving average of $88.67 and a 200 day moving average of $80.68. Ingles Markets, Incorporated has a 12 month low of $59.09 and a 12 month high of $95.62. The firm has a market cap of $1.68 billion, a PE ratio of 16.11 and a beta of 0.62. The company has a current ratio of 3.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.29.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter. Ingles Markets had a return on equity of 6.41% and a net margin of 1.93%.The company had revenue of $1.31 billion during the quarter.

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Thursday, April 9th were given a dividend of $0.165 per share. The ex-dividend date was Thursday, April 9th. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. Ingles Markets’s dividend payout ratio is 12.02%.

Institutional Investors Weigh In On Ingles Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC purchased a new stake in Ingles Markets during the first quarter valued at approximately $38,000. State of Alaska Department of Revenue purchased a new stake in shares of Ingles Markets in the third quarter worth approximately $38,000. Highlander Partners L.P. purchased a new stake in shares of Ingles Markets in the fourth quarter worth approximately $45,000. Eastern Bank purchased a new stake in shares of Ingles Markets in the fourth quarter worth approximately $48,000. Finally, Torren Management LLC purchased a new stake in shares of Ingles Markets in the fourth quarter worth approximately $51,000. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IMKTA has been the topic of a number of recent research reports. Weiss Ratings upgraded Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, May 14th. Wall Street Zen downgraded Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Ingles Markets presently has a consensus rating of “Buy”.

About Ingles Markets

Ingles Markets, Inc (NASDAQ: IMKTA) is a family‐owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.

In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.