Ingles Markets (NASDAQ:IMKTA) Shares Pass Above 200 Day Moving Average – Time to Sell?

Ingles Markets, Incorporated (NASDAQ:IMKTA) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $72.54 and traded as high as $87.56. Ingles Markets shares last traded at $87.44, with a volume of 159,634 shares.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IMKTA shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Ingles Markets in a research note on Monday, December 29th. Wall Street Zen raised shares of Ingles Markets from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Ingles Markets presently has a consensus rating of “Hold”.

Ingles Markets Stock Up 0.1%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.69 and a current ratio of 3.36. The company has a market cap of $1.66 billion, a P/E ratio of 17.45 and a beta of 0.77. The stock has a 50 day moving average price of $75.59 and a 200 day moving average price of $72.54.

Ingles Markets (NASDAQ:IMKTA) last released its earnings results on Thursday, February 5th. The company reported $1.48 earnings per share (EPS) for the quarter. Ingles Markets had a return on equity of 5.93% and a net margin of 1.76%.The firm had revenue of $1.37 billion for the quarter.

Ingles Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Thursday, January 8th were paid a $0.165 dividend. The ex-dividend date of this dividend was Thursday, January 8th. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. Ingles Markets’s payout ratio is currently 13.17%.

Institutional Trading of Ingles Markets

Large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Ingles Markets by 3.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,817 shares of the company’s stock valued at $272,000 after buying an additional 144 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Ingles Markets by 14.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,561 shares of the company’s stock worth $109,000 after acquiring an additional 197 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Ingles Markets by 4.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,809 shares of the company’s stock worth $330,000 after purchasing an additional 207 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Ingles Markets by 4.2% during the second quarter. The Manufacturers Life Insurance Company now owns 5,163 shares of the company’s stock valued at $327,000 after purchasing an additional 209 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its position in shares of Ingles Markets by 7.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,135 shares of the company’s stock valued at $199,000 after purchasing an additional 215 shares during the period. 62.54% of the stock is currently 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.