Ingles Markets, Incorporated (NASDAQ:IMKTA) Short Interest Up 7.6% in December

Ingles Markets, Incorporated (NASDAQ:IMKTA - Get Free Report) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 727,200 shares, an increase of 7.6% from the December 15th total of 675,600 shares. Based on an average daily volume of 140,600 shares, the short-interest ratio is presently 5.2 days.

Ingles Markets Stock Performance

NASDAQ:IMKTA traded down $1.23 during trading hours on Monday, hitting $63.07. 103,594 shares of the company were exchanged, compared to its average volume of 123,748. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.89 and a quick ratio of 1.45. Ingles Markets has a 52-week low of $59.73 and a 52-week high of $86.16. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 11.36 and a beta of 0.76. The company's 50 day moving average price is $68.05 and its 200-day moving average price is $69.81.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last issued its quarterly earnings results on Friday, December 27th. The company reported ($0.08) EPS for the quarter. Ingles Markets had a return on equity of 6.90% and a net margin of 1.87%.

Ingles Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were given a dividend of $0.165 per share. The ex-dividend date was Friday, January 10th. This represents a $0.66 dividend on an annualized basis and a yield of 1.05%. Ingles Markets's dividend payout ratio is presently 11.89%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Ingles Markets from a "hold" rating to a "buy" rating in a report on Monday, December 30th.

Hedge Funds Weigh In On Ingles Markets

A number of institutional investors have recently modified their holdings of IMKTA. GAMMA Investing LLC grew its stake in shares of Ingles Markets by 413.9% during the 3rd quarter. GAMMA Investing LLC now owns 406 shares of the company's stock worth $30,000 after purchasing an additional 327 shares during the period. CWM LLC grew its position in Ingles Markets by 75.5% during the third quarter. CWM LLC now owns 760 shares of the company's stock valued at $57,000 after buying an additional 327 shares during the period. Canada Pension Plan Investment Board purchased a new position in Ingles Markets in the second quarter valued at $69,000. FNY Investment Advisers LLC acquired a new position in shares of Ingles Markets in the fourth quarter worth about $96,000. Finally, Caprock Group LLC acquired a new position in shares of Ingles Markets in the third quarter worth about $203,000. 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.