A number of other analysts also recently issued reports on the stock. ValuEngine raised shares of Ingles Markets from a strong sell rating to a sell rating in a report on Tuesday, July 9th. Zacks Investment Research raised shares of Ingles Markets from a hold rating to a strong-buy rating and set a $39.00 price target for the company in a report on Wednesday, August 14th.
NASDAQ IMKTA opened at $39.36 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 2.06 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $812.79 million, a P/E ratio of 10.29, a P/E/G ratio of 0.71 and a beta of 0.37. Ingles Markets has a 12-month low of $25.57 and a 12-month high of $43.65. The firm has a 50-day moving average price of $37.02 and a two-hundred day moving average price of $31.57.
In other news, Director Sharp Laura Ingle sold 1,288 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $40.05, for a total transaction of $51,584.40. Following the completion of the sale, the director now owns 13,712 shares of the company’s stock, valued at approximately $549,165.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 11,288 shares of company stock valued at $412,084. 29.50% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Virginia Retirement Systems ET AL acquired a new position in Ingles Markets during the 2nd quarter worth approximately $327,000. James Investment Research Inc. increased its position in Ingles Markets by 64.9% during the 2nd quarter. James Investment Research Inc. now owns 33,375 shares of the company’s stock worth $1,039,000 after purchasing an additional 13,135 shares in the last quarter. Janus Henderson Group PLC increased its position in Ingles Markets by 67.3% during the 2nd quarter. Janus Henderson Group PLC now owns 887,453 shares of the company’s stock worth $27,626,000 after purchasing an additional 356,987 shares in the last quarter. Denali Advisors LLC increased its position in Ingles Markets by 202.4% during the 2nd quarter. Denali Advisors LLC now owns 26,963 shares of the company’s stock worth $839,000 after purchasing an additional 18,047 shares in the last quarter. Finally, Aperio Group LLC increased its position in Ingles Markets by 53.9% during the 2nd quarter. Aperio Group LLC now owns 41,570 shares of the company’s stock worth $1,294,000 after purchasing an additional 14,552 shares in the last quarter. Institutional investors and hedge funds own 65.03% of the company’s stock.
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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