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

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

Analysts Set New Price Targets

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

Ingles Markets Stock Performance

Shares of IMKTA traded down $2.01 on Friday, reaching $64.46. 169,867 shares of the stock traded hands, compared to its average volume of 112,779. The stock's 50-day moving average price is $66.52 and its 200-day moving average price is $69.25. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.89 and a quick ratio of 1.45. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 11.61 and a beta of 0.75. Ingles Markets has a 12 month low of $59.73 and a 12 month high of $82.76.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 1.87% and a return on equity of 6.90%.

Ingles Markets Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, January 10th. Ingles Markets's dividend payout ratio (DPR) is presently 11.89%.

Institutional Investors Weigh In On Ingles Markets

Institutional investors have recently added to or reduced their stakes in the stock. River Road Asset Management LLC grew its holdings in shares of Ingles Markets by 0.6% in the 4th quarter. River Road Asset Management LLC now owns 976,424 shares of the company's stock worth $62,921,000 after purchasing an additional 5,398 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Ingles Markets in the fourth quarter valued at about $3,559,000. Atria Investments Inc boosted its position in Ingles Markets by 13.5% in the fourth quarter. Atria Investments Inc now owns 8,321 shares of the company's stock valued at $536,000 after buying an additional 989 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Ingles Markets by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,558 shares of the company's stock worth $29,227,000 after buying an additional 48,000 shares during the last quarter. Finally, Factorial Partners LLC increased its holdings in shares of Ingles Markets by 22.1% during the fourth quarter. Factorial Partners LLC now owns 30,996 shares of the company's stock worth $1,997,000 after buying an additional 5,600 shares in the last quarter. 62.54% of the stock is owned by institutional investors and hedge funds.

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.