Ingles Markets (NASDAQ:IMKTA) Hits New 1-Year Low at $72.72

Ingles Markets, Incorporated (NASDAQ:IMKTA)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $72.72 and last traded at $73.27, with a volume of 60504 shares. The stock had previously closed at $73.34.

Wall Street Analyst Weigh In

Several analysts have weighed in on IMKTA shares. TheStreet cut shares of Ingles Markets from a “b” rating to a “c+” rating in a research note on Monday, February 26th. StockNews.com lowered shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Friday, February 9th.

Ingles Markets Trading Down 0.1 %

The company’s fifty day simple moving average is $76.06 and its two-hundred day simple moving average is $80.24. The company has a quick ratio of 1.45, a current ratio of 3.22 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 7.53 and a beta of 0.60.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings data on Thursday, February 8th. The company reported $2.28 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 3.14% and a return on equity of 12.92%. The company had revenue of $1.48 billion during the quarter.

Ingles Markets Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Thursday, April 11th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, April 10th. Ingles Markets’s dividend payout ratio (DPR) is currently 6.79%.

Insider Activity

In other news, Director Sharp Laura Ingle sold 2,000 shares of Ingles Markets stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $76.00, for a total value of $152,000.00. Following the completion of the transaction, the director now owns 24,700 shares of the company’s stock, valued at approximately $1,877,200. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 8,000 shares of company stock valued at $607,000 in the last quarter. Company insiders own 23.10% of the company’s stock.

Institutional Trading of Ingles Markets

A number of hedge funds have recently modified their holdings of the stock. River Road Asset Management LLC raised its stake in Ingles Markets by 1.6% in the 3rd quarter. River Road Asset Management LLC now owns 821,291 shares of the company’s stock worth $61,868,000 after purchasing an additional 12,850 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Ingles Markets in the 3rd quarter worth about $1,382,000. Gamco Investors INC. ET AL raised its stake in Ingles Markets by 1.7% in the 3rd quarter. Gamco Investors INC. ET AL now owns 542,920 shares of the company’s stock worth $40,898,000 after purchasing an additional 9,030 shares in the last quarter. American Century Companies Inc. raised its stake in Ingles Markets by 9.5% in the 3rd quarter. American Century Companies Inc. now owns 257,857 shares of the company’s stock worth $19,424,000 after purchasing an additional 22,400 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in Ingles Markets by 12.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,964 shares of the company’s stock worth $374,000 after purchasing an additional 543 shares in the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.

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.