A number of other research firms also recently commented on IMKTA. TheStreet upgraded Ingles Markets from a c+ rating to a b- rating in a research report on Friday, March 1st. ValuEngine upgraded Ingles Markets from a strong sell rating to a sell rating in a research report on Wednesday, January 16th. Finally, Zacks Investment Research downgraded Ingles Markets from a buy rating to a hold rating in a research report on Wednesday, February 13th.
Shares of IMKTA stock opened at $30.67 on Tuesday. Ingles Markets has a 1-year low of $25.57 and a 1-year high of $37.65. The firm has a market cap of $621.34 million, a P/E ratio of 6.38, a price-to-earnings-growth ratio of 1.12 and a beta of 0.63. The company has a current ratio of 1.94, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Thursday, April 11th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $0.66 dividend on an annualized basis and a yield of 2.15%. Ingles Markets’s payout ratio is 13.72%.
In other news, Director Sharp Laura Ingle sold 2,500 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $27.39, for a total value of $68,475.00. Following the sale, the director now directly owns 25,000 shares in the company, valued at $684,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 29.50% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Capital Investment Advisory Services LLC purchased a new stake in shares of Ingles Markets in the fourth quarter valued at $27,000. Investors Research Corp purchased a new stake in shares of Ingles Markets in the first quarter valued at $30,000. New York State Teachers Retirement System purchased a new stake in shares of Ingles Markets in the fourth quarter valued at $33,000. Bank of Montreal Can lifted its position in shares of Ingles Markets by 50.3% in the fourth quarter. Bank of Montreal Can now owns 2,162 shares of the company’s stock valued at $58,000 after acquiring an additional 724 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Ingles Markets by 32.9% in the fourth quarter. Legal & General Group Plc now owns 2,720 shares of the company’s stock valued at $74,000 after acquiring an additional 674 shares in the last quarter. Institutional investors and hedge funds own 62.89% of the company’s stock.
Ingles Markets Company Profile
Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. Its supermarkets offer various food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, such as fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.
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