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

Ingles Markets, Incorporated (NASDAQ:IMKTA) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $69.64 and traded as high as $71.12. Ingles Markets shares last traded at $69.66, with a volume of 90,956 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Wall Street Zen upgraded shares of Ingles Markets from a “hold” rating to a “buy” rating in a research note on Saturday, November 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ingles Markets in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Ingles Markets Stock Performance

The company has a market cap of $1.32 billion, a price-to-earnings ratio of 15.83 and a beta of 0.75. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.22 and a quick ratio of 1.63. The firm has a fifty day simple moving average of $72.50 and a 200 day simple moving average of $69.64.

Ingles Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Thursday, January 8th will be paid a $0.165 dividend. The ex-dividend date is Thursday, January 8th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. Ingles Markets’s payout ratio is presently 15.00%.

Institutional Investors Weigh In On Ingles Markets

Hedge funds have recently modified their holdings of the business. Huntington National Bank increased its position in Ingles Markets by 45,500.0% during the second quarter. Huntington National Bank now owns 456 shares of the company’s stock worth $29,000 after acquiring an additional 455 shares during the period. Signaturefd LLC increased its holdings in shares of Ingles Markets by 82.5% during the 2nd quarter. Signaturefd LLC now owns 522 shares of the company’s stock worth $33,000 after purchasing an additional 236 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Ingles Markets during the third quarter valued at about $38,000. First Horizon Advisors Inc. raised its position in shares of Ingles Markets by 192.6% during the second quarter. First Horizon Advisors Inc. now owns 632 shares of the company’s stock valued at $40,000 after buying an additional 416 shares during the last quarter. Finally, Eastern Bank bought a new stake in shares of Ingles Markets in the fourth quarter valued at about $48,000. 62.54% of the stock is owned by institutional investors.

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.