Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Zacks has also given Ingles Markets an industry rank of 94 out of 257 based on the ratings given to its competitors.

A number of research analysts have commented on IMKTA shares. BidaskClub upgraded shares of Ingles Markets from a “hold” rating to a “buy” rating in a research note on Monday, October 1st. Zacks Investment Research upgraded shares of Ingles Markets from a “sell” rating to a “hold” rating in a research note on Monday, September 3rd. Finally, ValuEngine upgraded shares of Ingles Markets from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 31st.

In other Ingles Markets news, Director Sharp Laura Ingle sold 2,500 shares of the stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $36.00, for a total transaction of $90,000.00. Following the transaction, the director now directly owns 30,000 shares in the company, valued at approximately $1,080,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 29.50% of the company’s stock.

Several large investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Ingles Markets by 0.9% during the third quarter. BlackRock Inc. now owns 1,057,416 shares of the company’s stock worth $36,217,000 after purchasing an additional 9,212 shares during the period. River Road Asset Management LLC increased its holdings in shares of Ingles Markets by 0.4% in the 3rd quarter. River Road Asset Management LLC now owns 887,792 shares of the company’s stock worth $30,407,000 after acquiring an additional 3,240 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Ingles Markets by 36.9% in the 2nd quarter. Janus Henderson Group PLC now owns 885,022 shares of the company’s stock worth $28,144,000 after acquiring an additional 238,491 shares during the period. Northern Trust Corp increased its holdings in shares of Ingles Markets by 1.1% in the 2nd quarter. Northern Trust Corp now owns 275,510 shares of the company’s stock worth $8,761,000 after acquiring an additional 3,017 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Ingles Markets by 12.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 267,681 shares of the company’s stock worth $8,513,000 after acquiring an additional 30,061 shares during the period. 63.72% of the stock is currently owned by institutional investors.

Shares of IMKTA stock traded down $0.77 on Friday, hitting $33.03. The stock had a trading volume of 35,864 shares, compared to its average volume of 87,980. The company has a market capitalization of $677.06 million, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The company has a current ratio of 1.96, a quick ratio of 0.50 and a debt-to-equity ratio of 1.51. Ingles Markets has a 52-week low of $23.00 and a 52-week high of $37.65.

Ingles Markets (NASDAQ:IMKTA) last announced its earnings results on Thursday, August 9th. The company reported $0.91 earnings per share for the quarter. The business had revenue of $1.03 billion during the quarter. Ingles Markets had a net margin of 2.38% and a return on equity of 16.76%. Equities research analysts predict that Ingles Markets will post 2.75 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Thursday, October 11th were paid a dividend of $0.165 per share. The ex-dividend date was Wednesday, October 10th. This represents a $0.66 dividend on an annualized basis and a yield of 2.00%. Ingles Markets’s dividend payout ratio (DPR) is 24.81%.

About Ingles Markets

Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. Its supermarkets offer various food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, such as fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.

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