Short Interest in Ingles Markets, Incorporated (NASDAQ:IMKTA) Increases By 20.5%

Ingles Markets, Incorporated (NASDAQ:IMKTA - Get Free Report) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 709,200 shares, a growth of 20.5% from the October 31st total of 588,400 shares. Based on an average daily trading volume, of 146,300 shares, the short-interest ratio is presently 4.8 days.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Ingles Markets

A number of institutional investors have recently bought and sold shares of IMKTA. CWM LLC lifted its stake in Ingles Markets by 240.9% in the second quarter. CWM LLC now owns 433 shares of the company's stock valued at $30,000 after acquiring an additional 306 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Ingles Markets by 413.9% in the 3rd quarter. GAMMA Investing LLC now owns 406 shares of the company's stock valued at $30,000 after purchasing an additional 327 shares during the last quarter. Signaturefd LLC boosted its holdings in Ingles Markets by 101.0% in the second quarter. Signaturefd LLC now owns 1,003 shares of the company's stock worth $69,000 after purchasing an additional 504 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Ingles Markets during the second quarter worth $69,000. Finally, Innealta Capital LLC bought a new position in Ingles Markets during the second quarter valued at about $74,000. Institutional investors and hedge funds own 62.54% of the company's stock.

Ingles Markets Stock Up 0.8 %

Ingles Markets stock traded up $0.56 during mid-day trading on Friday, hitting $73.90. The company's stock had a trading volume of 57,126 shares, compared to its average volume of 122,963. Ingles Markets has a 52-week low of $59.73 and a 52-week high of $89.59. The company has a market cap of $1.40 billion, a PE ratio of 8.80 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.99 and a quick ratio of 1.49. The firm's 50 day moving average is $67.65 and its 200 day moving average is $70.90.

Ingles Markets Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 10th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Thursday, October 10th. Ingles Markets's dividend payout ratio is currently 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.