Ingles Markets, Incorporated (NASDAQ:IMKTA – Get Free Report) was the target of a significant increase in short interest during 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 trading volume of 140,600 shares, the short-interest ratio is presently 5.2 days.
Hedge Funds Weigh In On Ingles Markets
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC raised its position in shares of Ingles Markets by 18.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,116 shares of the company’s stock worth $214,000 after purchasing an additional 484 shares during the period. Inspire Investing LLC raised its position in shares of Ingles Markets by 9.5% during the second quarter. Inspire Investing LLC now owns 5,170 shares of the company’s stock worth $355,000 after purchasing an additional 447 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Ingles Markets during the second quarter worth about $69,000. Sei Investments Co. raised its position in shares of Ingles Markets by 12.1% during the second quarter. Sei Investments Co. now owns 3,844 shares of the company’s stock worth $264,000 after purchasing an additional 416 shares during the period. Finally, Gabelli Funds LLC raised its position in shares of Ingles Markets by 0.3% during the second quarter. Gabelli Funds LLC now owns 376,100 shares of the company’s stock worth $25,804,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 62.54% of the company’s stock.
Ingles Markets Price Performance
Shares of IMKTA opened at $63.07 on Tuesday. The company has a current ratio of 2.89, a quick ratio of 1.45 and a debt-to-equity ratio of 0.33. Ingles Markets has a 1 year low of $59.73 and a 1 year high of $86.16. The stock has a market cap of $1.20 billion, a P/E ratio of 11.36 and a beta of 0.76. The stock’s 50-day moving average price is $68.05 and its two-hundred day moving average price is $69.81.
Ingles Markets Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Friday, January 10th. Ingles Markets’s dividend payout ratio (DPR) is currently 11.89%.
Analysts Set New Price Targets
Separately, StockNews.com upgraded Ingles Markets from a “hold” rating to a “buy” rating in a report on Monday, December 30th.
Check Out Our Latest Research Report on Ingles Markets
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.
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