Ingles Markets, Incorporated (IMKTA) Receives Consensus Recommendation of “Strong Buy” from Analysts
Ingles Markets, Incorporated (NASDAQ:IMKTA) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Zacks has also assigned Ingles Markets, an industry rank of 99 out of 265 based on the ratings given to related companies.
A number of research analysts recently weighed in on IMKTA shares. TheStreet downgraded Ingles Markets, from a “b” rating to a “c+” rating in a research note on Thursday, June 15th. Zacks Investment Research raised Ingles Markets, from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th.
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Shares of Ingles Markets, (NASDAQ:IMKTA) opened at 27.05 on Friday. Ingles Markets, has a 52-week low of $26.15 and a 52-week high of $52.40. The stock’s 50 day moving average price is $30.22 and its 200-day moving average price is $39.56. The firm has a market cap of $548.01 million, a price-to-earnings ratio of 11.27 and a beta of 0.60.
Ingles Markets, (NASDAQ:IMKTA) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.57 earnings per share (EPS) for the quarter. The company had revenue of $984.40 million for the quarter. Ingles Markets, had a return on equity of 10.08% and a net margin of 1.26%. On average, analysts forecast that Ingles Markets, will post $2.75 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Thursday, July 6th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Monday, July 3rd. Ingles Markets,’s dividend payout ratio (DPR) is currently 27.50%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors bought a new stake in shares of Ingles Markets, during the second quarter valued at approximately $100,000. Victory Capital Management Inc. increased its stake in shares of Ingles Markets, by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,805 shares of the company’s stock valued at $127,000 after buying an additional 572 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Ingles Markets, by 13.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,002 shares of the company’s stock valued at $129,000 after buying an additional 346 shares during the period. Citigroup Inc. increased its stake in shares of Ingles Markets, by 353.3% in the second quarter. Citigroup Inc. now owns 4,161 shares of the company’s stock valued at $138,000 after buying an additional 3,243 shares during the period. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Ingles Markets, during the second quarter valued at approximately $209,000. 58.97% of the stock is currently owned by institutional investors and hedge funds.
About Ingles Markets,
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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