Ingles Markets, Incorporated (NASDAQ:IMKTA) Short Interest Update

Ingles Markets, Incorporated (NASDAQ:IMKTA) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 304,000 shares, a growth of 5.6% from the March 15th total of 288,000 shares. Based on an average trading volume of 82,800 shares, the days-to-cover ratio is currently 3.7 days.

Wall Street Analyst Weigh In

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

Ingles Markets Stock Up 0.5 %

Shares of NASDAQ:IMKTA opened at $73.34 on Tuesday. Ingles Markets has a fifty-two week low of $72.77 and a fifty-two week high of $94.68. The company has a quick ratio of 1.45, a current ratio of 3.22 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $76.24 and its 200-day simple moving average is $80.26. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 7.55 and a beta of 0.60.

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

Ingles Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Thursday, April 11th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, April 10th. Ingles Markets’s dividend payout ratio is presently 6.79%.

Insider Activity

In related news, Director Sharp Laura Ingle sold 2,000 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now owns 28,700 shares in the company, valued at approximately $2,152,500. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 8,000 shares of company stock valued at $607,000 in the last ninety days. 23.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its position in shares of Ingles Markets by 53.0% during the 2nd quarter. Osaic Holdings Inc. now owns 439 shares of the company’s stock valued at $36,000 after acquiring an additional 152 shares during the period. Ensign Peak Advisors Inc purchased a new stake in Ingles Markets during the third quarter worth $35,000. Penserra Capital Management LLC acquired a new stake in Ingles Markets in the first quarter valued at $45,000. Quadrant Capital Group LLC increased its position in shares of Ingles Markets by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 735 shares of the company’s stock valued at $63,000 after buying an additional 170 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Ingles Markets by 717.0% during the 1st quarter. Quantbot Technologies LP now owns 817 shares of the company’s stock worth $72,000 after buying an additional 717 shares during the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

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.