Ingles Markets (NASDAQ:IMKTA) Reaches New 1-Year Low - Here's Why

Ingles Markets, Incorporated (NASDAQ:IMKTA - Get Free Report)'s stock price reached a new 52-week low on Monday . The stock traded as low as $55.00 and last traded at $61.61, with a volume of 742 shares trading hands. The stock had previously closed at $62.12.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Ingles Markets from a "buy" rating to a "hold" rating in a research report on Monday, February 10th.

Ingles Markets Stock Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 3.24 and a quick ratio of 1.45. The company has a 50 day simple moving average of $63.40 and a 200-day simple moving average of $65.65. The stock has a market capitalization of $1.20 billion, a P/E ratio of 15.27 and a beta of 0.75.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.87 EPS for the quarter. Ingles Markets had a net margin of 1.45% and a return on equity of 5.09%.

Ingles Markets Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 10th will be paid a dividend of $0.165 per share. The ex-dividend date is Thursday, April 10th. This represents a $0.66 annualized dividend and a yield of 1.04%. Ingles Markets's dividend payout ratio is currently 15.94%.

Hedge Funds Weigh In On Ingles Markets

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC lifted its position in Ingles Markets by 346.2% in the 3rd quarter. Barclays PLC now owns 23,689 shares of the company's stock worth $1,768,000 after buying an additional 18,380 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Ingles Markets by 5.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,933 shares of the company's stock valued at $517,000 after purchasing an additional 378 shares during the last quarter. JPMorgan Chase & Co. raised its position in Ingles Markets by 49.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 54,652 shares of the company's stock worth $4,077,000 after purchasing an additional 18,141 shares during the period. Jane Street Group LLC raised its position in Ingles Markets by 29.4% in the 3rd quarter. Jane Street Group LLC now owns 18,041 shares of the company's stock worth $1,346,000 after purchasing an additional 4,101 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Ingles Markets by 3.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,830 shares of the company's stock worth $1,852,000 after purchasing an additional 712 shares during the last quarter. Hedge funds and other institutional investors own 62.54% of the company's stock.

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.