Ingles Markets (NASDAQ:IMKTA) Sets New 1-Year Low at $71.49

Ingles Markets, Incorporated (NASDAQ:IMKTA)’s share price hit a new 52-week low on Wednesday . The company traded as low as $71.49 and last traded at $71.84, with a volume of 12163 shares changing hands. The stock had previously closed at $72.17.

Wall Street Analyst Weigh In

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

Ingles Markets Stock Up 0.4 %

The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 7.42 and a beta of 0.62. The firm has a fifty day simple moving average of $74.55 and a 200-day simple moving average of $79.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.45 and a current ratio of 3.22.

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

Ingles Markets Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, April 11th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Wednesday, April 10th. Ingles Markets’s dividend payout ratio (DPR) is presently 6.79%.

Insider Transactions at Ingles Markets

In related news, Director Sharp Laura Ingle sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $76.00, for a total value of $152,000.00. Following the sale, the director now directly owns 24,700 shares of the company’s stock, valued at $1,877,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 8,000 shares of company stock valued at $607,000. Company insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On Ingles Markets

Several hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its position in shares of Ingles Markets by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 735 shares of the company’s stock worth $63,000 after acquiring an additional 170 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Ingles Markets in the 4th quarter worth approximately $78,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ingles Markets by 51.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,540 shares of the company’s stock valued at $191,000 after purchasing an additional 863 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Ingles Markets by 3,487.5% during the first quarter. Russell Investments Group Ltd. now owns 2,583 shares of the company’s stock worth $198,000 after buying an additional 2,511 shares during the period. Finally, Beacon Pointe Advisors LLC bought a new position in Ingles Markets during the fourth quarter worth $207,000. 62.54% of the stock is currently owned by institutional investors and hedge funds.

About Ingles Markets

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.