Ingles Markets (NASDAQ:IMKTA) Posts Earnings Results

Ingles Markets (NASDAQ:IMKTA) released its quarterly earnings results on Thursday. The company reported $1.48 EPS for the quarter, Zacks reports. Ingles Markets had a return on equity of 5.27% and a net margin of 1.57%.

Ingles Markets Stock Performance

IMKTA stock traded up $1.16 during midday trading on Thursday, reaching $84.44. The stock had a trading volume of 62,167 shares, compared to its average volume of 121,170. The firm has a fifty day simple moving average of $72.29 and a two-hundred day simple moving average of $70.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.63 and a current ratio of 3.22. The stock has a market cap of $1.60 billion, a PE ratio of 19.20 and a beta of 0.77. Ingles Markets has a 52-week low of $58.92 and a 52-week high of $84.90.

Ingles Markets Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Thursday, January 8th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, January 8th. Ingles Markets’s dividend payout ratio is presently 15.00%.

Hedge Funds Weigh In On Ingles Markets

Several hedge funds and other institutional investors have recently bought and sold shares of IMKTA. Parallel Advisors LLC lifted its stake in Ingles Markets by 14.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,561 shares of the company’s stock valued at $109,000 after acquiring an additional 197 shares during the period. Ancora Advisors LLC purchased a new position in shares of Ingles Markets during the 3rd quarter valued at about $125,000. Russell Investments Group Ltd. lifted its holdings in shares of Ingles Markets by 19.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,155 shares of the company’s stock valued at $200,000 after buying an additional 509 shares during the period. First Trust Advisors LP acquired a new position in shares of Ingles Markets in the 3rd quarter valued at about $217,000. Finally, Cetera Investment Advisers boosted its stake in shares of Ingles Markets by 17.3% in the second quarter. Cetera Investment Advisers now owns 4,351 shares of the company’s stock worth $276,000 after buying an additional 641 shares during the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IMKTA shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ingles Markets in a research note on Monday, December 29th. Wall Street Zen raised Ingles Markets from a “hold” rating to a “buy” rating in a research report on Saturday, November 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

About Ingles Markets

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.