Ingles Markets (NASDAQ:IMKTA) Reaches New 1-Year Low at $72.01

Ingles Markets, Incorporated (NASDAQ:IMKTA)’s share price reached a new 52-week low on Tuesday . The company traded as low as $72.01 and last traded at $72.24, with a volume of 13525 shares changing hands. The stock had previously closed at $73.28.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on IMKTA shares. TheStreet lowered shares of Ingles Markets from a “b” rating to a “c+” rating in a research note on Monday, February 26th. StockNews.com lowered Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 9th.

Ingles Markets Price Performance

The company has a market cap of $1.36 billion, a P/E ratio of 7.54 and a beta of 0.60. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.45 and a current ratio of 3.22. The firm has a 50 day moving average price of $75.09 and a two-hundred day moving average price of $79.92.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings data on Thursday, February 8th. The company reported $2.28 EPS for the quarter. Ingles Markets had a net margin of 3.14% and a return on equity of 12.92%. The company had revenue of $1.48 billion during the quarter.

Ingles Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Thursday, April 11th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, April 10th. Ingles Markets’s payout ratio is 6.79%.

Insider Transactions at Ingles Markets

In other Ingles Markets news, Director Sharp Laura Ingle sold 4,000 shares of Ingles Markets stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $76.25, for a total transaction of $305,000.00. Following the transaction, the director now directly owns 20,700 shares of the company’s stock, valued at $1,578,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 8,000 shares of company stock valued at $607,000. Insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On Ingles Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its position in Ingles Markets by 12.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,964 shares of the company’s stock valued at $374,000 after purchasing an additional 543 shares during the last quarter. SkyOak Wealth LLC lifted its stake in Ingles Markets by 13.2% in the third quarter. SkyOak Wealth LLC now owns 3,176 shares of the company’s stock worth $239,000 after acquiring an additional 371 shares during the period. Bank of New York Mellon Corp boosted its holdings in Ingles Markets by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 130,223 shares of the company’s stock valued at $9,810,000 after acquiring an additional 2,064 shares in the last quarter. Baker Ellis Asset Management LLC increased its position in Ingles Markets by 1.1% during the 3rd quarter. Baker Ellis Asset Management LLC now owns 45,830 shares of the company’s stock valued at $3,452,000 after purchasing an additional 500 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ingles Markets by 51.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,540 shares of the company’s stock worth $191,000 after purchasing an additional 863 shares in the last quarter. 62.54% of the stock is currently owned by institutional investors.

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.