Ingles Markets (NASDAQ:IMKTA) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Ingles Markets, Incorporated (NASDAQ:IMKTA)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $84.36 and traded as high as $94.00. Ingles Markets shares last traded at $91.02, with a volume of 130,010 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently issued reports on IMKTA shares. Weiss Ratings upgraded shares of Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Wall Street Zen cut shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Ingles Markets Price Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.77 and a current ratio of 3.34. The business has a 50 day moving average price of $88.82 and a 200-day moving average price of $84.36. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 16.58 and a beta of 0.61.

Ingles Markets (NASDAQ:IMKTA) last released its earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter. The business had revenue of $1.31 billion during the quarter. Ingles Markets had a return on equity of 6.41% and a net margin of 1.93%.

Ingles Markets Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 9th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, July 9th. Ingles Markets’s dividend payout ratio is presently 12.02%.

Insider Activity at Ingles Markets

In related news, Director Dwight L. Jacobs acquired 500 shares of the stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $88.07 per share, for a total transaction of $44,035.00. Following the purchase, the director directly owned 500 shares of the company’s stock, valued at $44,035. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc grew its holdings in Ingles Markets by 1,021.4% in the second quarter. Versant Capital Management Inc now owns 314 shares of the company’s stock worth $28,000 after purchasing an additional 286 shares during the period. Global Trust Asset Management LLC bought a new stake in Ingles Markets in the 1st quarter valued at about $38,000. Highlander Partners L.P. acquired a new stake in Ingles Markets in the fourth quarter valued at approximately $45,000. Eastern Bank bought a new stake in shares of Ingles Markets during the fourth quarter valued at approximately $48,000. Finally, Torren Management LLC bought a new stake in shares of Ingles Markets during the fourth quarter valued at approximately $51,000. 62.54% of the stock is owned by institutional investors.

Ingles Markets Company Profile

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.