Gabelli Equities Analysts Boost Earnings Estimates for Ingles Markets, Incorporated (IMKTA)
Ingles Markets, Incorporated (NASDAQ:IMKTA) – Research analysts at Gabelli lifted their FY2018 earnings per share estimates for Ingles Markets in a report issued on Friday. Gabelli analyst D. Witkowski now expects that the company will earn $2.85 per share for the year, up from their prior forecast of $2.65.
A number of other research firms also recently issued reports on IMKTA. BidaskClub raised Ingles Markets from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research raised Ingles Markets from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 4th.
In related news, Director Sharp Laura Ingle sold 5,000 shares of Ingles Markets stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $24.97, for a total transaction of $124,850.00. Following the completion of the transaction, the director now owns 2,500 shares in the company, valued at $62,425. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 30.30% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of IMKTA. Captrust Financial Advisors bought a new position in Ingles Markets during the second quarter worth about $100,000. Victory Capital Management Inc. boosted its holdings in shares of Ingles Markets by 17.7% during the second quarter. Victory Capital Management Inc. now owns 3,805 shares of the company’s stock worth $127,000 after acquiring an additional 572 shares during the period. Citigroup Inc. boosted its holdings in shares of Ingles Markets by 353.3% during the second quarter. Citigroup Inc. now owns 4,161 shares of the company’s stock worth $138,000 after acquiring an additional 3,243 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of Ingles Markets during the second quarter worth approximately $209,000. Finally, Sei Investments Co. bought a new stake in shares of Ingles Markets during the second quarter worth approximately $225,000. Institutional investors and hedge funds own 59.40% of the company’s stock.
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Ingles Markets Company Profile
Ingles Markets, Incorporated (Ingles) is a supermarket chain in the southeast United States. The Company’s segments include retail grocery and other. Its other segment consists of fluid dairy operations and shopping center rentals. As of September 24, 2016, the Company operated 201 supermarkets in Georgia, North Carolina, South Carolina, Tennessee, Virginia and Alabama.
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