Ingles Markets (NASDAQ:IMKTA) Announces Earnings Results

Ingles Markets (NASDAQ:IMKTA) issued its quarterly earnings results on Thursday. The company reported $1.28 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $1.31 billion for the quarter. Ingles Markets had a net margin of 1.93% and a return on equity of 6.45%.

Ingles Markets Stock Up 1.0%

Shares of Ingles Markets stock traded up $0.82 during trading hours on Friday, reaching $86.60. 98,640 shares of the company were exchanged, compared to its average volume of 131,166. Ingles Markets has a 1 year low of $59.09 and a 1 year high of $95.62. The stock’s fifty day moving average is $88.45 and its 200 day moving average is $79.60. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.69 and a current ratio of 3.36. The firm has a market cap of $1.64 billion, a PE ratio of 15.77 and a beta of 0.62.

Ingles Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.8%. Ingles Markets’s dividend payout ratio is currently 12.02%.

Hedge Funds Weigh In On Ingles Markets

Institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Ingles Markets during the third quarter worth $38,000. Global Trust Asset Management LLC acquired a new position in shares of Ingles Markets during the first quarter worth $38,000. Highlander Partners L.P. acquired a new position in shares of Ingles Markets during the fourth quarter worth $45,000. Eastern Bank acquired a new position in shares of Ingles Markets during the fourth quarter worth $48,000. Finally, Torren Management LLC acquired a new position in shares of Ingles Markets during the fourth quarter worth $51,000. Institutional investors and hedge funds own 62.54% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Ingles Markets from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Ingles Markets Company Profile

Ingles Markets, Inc (NASDAQ: IMKTA) is a family‐owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.

In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.