Short Interest in Ingles Markets, Incorporated (NASDAQ:IMKTA) Increases By 57.2%

Ingles Markets, Incorporated (NASDAQ:IMKTA) saw a large increase in short interest in October. As of October 15th, there was short interest totalling 639,300 shares, an increase of 57.2% from the September 30th total of 406,700 shares. Based on an average trading volume of 126,600 shares, the days-to-cover ratio is currently 5.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of IMKTA. GAMMA Investing LLC increased its stake in 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 purchasing an additional 327 shares in the last quarter. CWM LLC increased its position in Ingles Markets by 240.9% in the 2nd quarter. CWM LLC now owns 433 shares of the company’s stock valued at $30,000 after buying an additional 306 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Ingles Markets during the 2nd quarter worth approximately $69,000. Signaturefd LLC boosted its holdings in Ingles Markets by 101.0% in the second quarter. Signaturefd LLC now owns 1,003 shares of the company’s stock worth $69,000 after acquiring an additional 504 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Ingles Markets in the second quarter valued at approximately $74,000. Institutional investors and hedge funds own 62.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 21st.

Ingles Markets Trading Up 0.4 %

IMKTA opened at $61.89 on Tuesday. Ingles Markets has a twelve month low of $59.73 and a twelve month high of $89.59. The company has a fifty day moving average of $69.14 and a 200-day moving average of $71.48. The stock has a market cap of $1.18 billion, a PE ratio of 7.37 and a beta of 0.70. The company has a quick ratio of 1.49, a current ratio of 2.99 and a debt-to-equity ratio of 0.34.

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

Ingles Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 10th were paid a $0.165 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.66 annualized dividend and a dividend yield of 1.07%. Ingles Markets’s dividend payout ratio is currently 7.86%.

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.