Ingles Markets, Incorporated (NASDAQ:IMKTA) Short Interest Update

Ingles Markets, Incorporated (NASDAQ:IMKTA) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 709,200 shares, an increase of 20.5% from the October 31st total of 588,400 shares. Based on an average daily volume of 146,300 shares, the short-interest ratio is currently 4.8 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of Ingles Markets by 240.9% in the second quarter. CWM LLC now owns 433 shares of the company’s stock valued at $30,000 after buying an additional 306 shares during the period. GAMMA Investing LLC grew its stake in shares of Ingles Markets by 413.9% during the third quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock worth $30,000 after buying an additional 327 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Ingles Markets by 101.0% during the second quarter. Signaturefd LLC now owns 1,003 shares of the company’s stock worth $69,000 after buying an additional 504 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Ingles Markets in the 2nd quarter valued at $69,000. Finally, Innealta Capital LLC acquired a new stake in shares of Ingles Markets during the 2nd quarter valued at $74,000. Institutional investors own 62.54% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ingles Markets Stock Performance

Shares of NASDAQ:IMKTA traded down $0.99 during trading on Monday, reaching $72.91. 114,986 shares of the stock were exchanged, compared to its average volume of 101,919. Ingles Markets has a 12 month low of $59.73 and a 12 month high of $89.59. The stock has a 50-day moving average price of $67.66 and a 200-day moving average price of $70.87. The company has a current ratio of 2.99, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34. The firm has a market cap of $1.38 billion, a PE ratio of 8.68 and a beta of 0.72.

Ingles Markets Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 10th were paid a $0.165 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.66 annualized dividend and a yield of 0.91%. Ingles Markets’s dividend payout ratio (DPR) is presently 7.86%.

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.