Ingles Markets (NASDAQ:IMKTA) Stock Breaks Below 200-Day Moving Average – Here’s What Happened

Ingles Markets, Incorporated (NASDAQ:IMKTA)’s share price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $85.97 and traded as low as $85.44. Ingles Markets shares last traded at $85.49, with a volume of 84,943 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ingles Markets in a research note on Thursday, October 22nd. One research analyst has rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Ingles Markets Stock Performance

The company has a quick ratio of 1.75, a current ratio of 3.21 and a debt-to-equity ratio of 0.29. The company has a market cap of $1.58 billion, a P/E ratio of 15.29 and a beta of 0.57. The business has a fifty day moving average of $84.27 and a 200 day moving average of $86.11.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.36 earnings per share for the quarter. The business had revenue of $1.37 billion for the quarter. Ingles Markets had a net margin of 1.92% and a return on equity of 6.30%.

Ingles Markets Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 8th were given a $0.1650 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, October 8th. Ingles Markets’s dividend payout ratio (DPR) is currently 12.07%.

Hedge Funds Weigh In On Ingles Markets

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming raised its stake in Ingles Markets by 13.5% in the third quarter. State of Wyoming now owns 11,450 shares of the company’s stock worth $971,000 after buying an additional 1,361 shares in the last quarter. Signaturefd LLC lifted its holdings in Ingles Markets by 82.0% in the third quarter. Signaturefd LLC now owns 2,160 shares of the company’s stock worth $183,000 after buying an additional 973 shares during the period. Evergreen Capital Management LLC purchased a new stake in Ingles Markets in the third quarter worth about $223,000. Nisa Investment Advisors LLC boosted its position in Ingles Markets by 31.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,642 shares of the company’s stock valued at $139,000 after acquiring an additional 397 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in Ingles Markets by 21.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 678 shares of the company’s stock valued at $57,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Ingles Markets Company Profile

Ingles Markets, Inc operates a regional chain of supermarkets serving communities primarily across the southeastern United States. Its stores offer a broad selection of groceries, including fresh produce, meat, seafood, bakery and deli items, packaged foods, beverages, and health and household products.

The company also operates in-store pharmacies and fuel centers at many locations. Through its distribution and dairy operations, Ingles supports the supply of products to its supermarkets, including milk and other dairy products processed by its Milkco subsidiary.

Founded in 1963 by Robert P.