Ingles Markets (NASDAQ:IMKTA) Hits New 1-Year Low at $72.70

Ingles Markets, Incorporated (NASDAQ:IMKTA) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $72.70 and last traded at $73.17, with a volume of 5448 shares traded. The stock had previously closed at $73.10.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com lowered shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Friday, February 9th. TheStreet lowered shares of Ingles Markets from a “b” rating to a “c+” rating in a report on Monday, February 26th.

Ingles Markets Stock Down 0.5 %

The business’s fifty day simple moving average is $75.22 and its 200 day simple moving average is $79.98. The company has a current ratio of 3.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 7.50 and a beta of 0.60.

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

Ingles Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Thursday, April 11th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.91%. Ingles Markets’s dividend payout ratio is 6.79%.

Insider Transactions at Ingles Markets

In other news, Director Sharp Laura Ingle sold 2,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $76.00, for a total transaction of $152,000.00. Following the completion of the transaction, the director now directly owns 24,700 shares in the company, valued at approximately $1,877,200. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 8,000 shares of company stock worth $607,000 in the last three months. Insiders own 23.10% of the company’s stock.

Hedge Funds Weigh In On Ingles Markets

A number of large investors have recently modified their holdings of the business. Quadrant Capital Group LLC lifted its stake in Ingles Markets by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 735 shares of the company’s stock valued at $63,000 after purchasing an additional 170 shares during the last quarter. Quest Partners LLC acquired a new stake in Ingles Markets in the 4th quarter valued at about $78,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Ingles Markets by 51.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,540 shares of the company’s stock valued at $191,000 after purchasing an additional 863 shares during the last quarter. Beacon Pointe Advisors LLC acquired a new stake in Ingles Markets in the 4th quarter valued at about $207,000. Finally, Leuthold Group LLC acquired a new stake in Ingles Markets in the 4th quarter valued at about $210,000. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Ingles Markets Company Profile

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.