Ingles Markets (NASDAQ:IMKTA) Reaches New 52-Week High – What’s Next?

Ingles Markets, Incorporated (NASDAQ:IMKTA)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $75.69 and last traded at $75.36, with a volume of 19028 shares. The stock had previously closed at $73.66.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ingles Markets in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Ingles Markets Stock Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.14 and a quick ratio of 1.53. The company has a 50 day simple moving average of $71.73 and a 200-day simple moving average of $66.84. The firm has a market cap of $1.44 billion, a PE ratio of 25.56 and a beta of 0.74.

Ingles Markets Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Thursday, October 9th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, October 9th. Ingles Markets’s dividend payout ratio (DPR) is presently 22.22%.

Institutional Trading of Ingles Markets

Several institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank increased its holdings in shares of Ingles Markets by 45,500.0% in the second quarter. Huntington National Bank now owns 456 shares of the company’s stock worth $29,000 after buying an additional 455 shares during the period. Signaturefd LLC grew its position in Ingles Markets by 82.5% during the 2nd quarter. Signaturefd LLC now owns 522 shares of the company’s stock worth $33,000 after acquiring an additional 236 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Ingles Markets in the 3rd quarter worth approximately $38,000. First Horizon Advisors Inc. lifted its position in Ingles Markets by 192.6% in the second quarter. First Horizon Advisors Inc. now owns 632 shares of the company’s stock valued at $40,000 after purchasing an additional 416 shares during the last quarter. Finally, Colonial Trust Co SC bought a new stake in Ingles Markets in the third quarter valued at approximately $70,000. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

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.