StockNews.com lowered shares of Ingles Markets (NASDAQ:IMKTA - Free Report) from a buy rating to a hold rating in a research note issued to investors on Monday.
Ingles Markets Price Performance
IMKTA stock traded up $0.78 during mid-day trading on Monday, reaching $65.53. 74,731 shares of the company's stock were exchanged, compared to its average volume of 111,654. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 15.83 and a beta of 0.75. The stock's 50 day moving average is $65.75 and its 200 day moving average is $68.80. 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 12-month low of $59.73 and a 12-month high of $82.01.
Ingles Markets (NASDAQ:IMKTA - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.87 earnings per share for the quarter. Ingles Markets had a return on equity of 5.11% and a net margin of 1.45%.
Ingles Markets Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.66 annualized dividend and a yield of 1.01%. Ingles Markets's dividend payout ratio (DPR) is 15.94%.
Institutional Investors Weigh In On Ingles Markets
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMKTA. Creative Planning grew its stake in shares of Ingles Markets by 36.3% in the second quarter. Creative Planning now owns 4,884 shares of the company's stock valued at $335,000 after buying an additional 1,301 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Ingles Markets in the second quarter valued at $641,000. GAMMA Investing LLC grew its stake in shares of Ingles Markets by 413.9% in the third quarter. GAMMA Investing LLC now owns 406 shares of the company's stock valued at $30,000 after buying an additional 327 shares in the last quarter. CWM LLC grew its stake in shares of Ingles Markets by 75.5% in the third quarter. CWM LLC now owns 760 shares of the company's stock valued at $57,000 after buying an additional 327 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of Ingles Markets in the third quarter valued at $603,000. Institutional investors and hedge funds own 62.54% of the company's stock.
About Ingles Markets
(
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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.
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