Ingles Markets (NASDAQ:IMKTA) Downgraded by StockNews.com

Ingles Markets (NASDAQ:IMKTA) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Ingles Markets Stock Down 0.6 %

Shares of NASDAQ IMKTA opened at $73.04 on Friday. The company has a market capitalization of $1.39 billion, a P/E ratio of 7.88 and a beta of 0.70. Ingles Markets has a 52-week low of $67.10 and a 52-week high of $89.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 2.99. The company’s 50 day moving average price is $74.26 and its 200-day moving average price is $73.19.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.67 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 2.74% and a return on equity of 10.58%. The firm had revenue of $1.39 billion for the quarter.

Insider Activity at Ingles Markets

In other news, Director Sharp Laura Ingle sold 5,901 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $68.02, for a total value of $401,386.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 23.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ingles Markets

Several institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC lifted its holdings in shares of Ingles Markets by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 735 shares of the company’s stock worth $63,000 after buying an additional 170 shares in the last quarter. Baker Ellis Asset Management LLC lifted its holdings in shares of Ingles Markets by 0.3% in the second quarter. Baker Ellis Asset Management LLC now owns 55,641 shares of the company’s stock worth $3,818,000 after buying an additional 181 shares in the last quarter. CWM LLC lifted its holdings in shares of Ingles Markets by 240.9% in the second quarter. CWM LLC now owns 433 shares of the company’s stock worth $30,000 after buying an additional 306 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Ingles Markets by 11.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 3,183 shares of the company’s stock worth $275,000 after buying an additional 330 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Ingles Markets by 12.1% in the second quarter. Sei Investments Co. now owns 3,844 shares of the company’s stock worth $264,000 after buying an additional 416 shares in the last quarter. 62.54% of the stock is owned by hedge funds and other institutional investors.

About Ingles Markets

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.