Ingles Markets (NASDAQ:IMKTA) Reaches New 1-Year High – What’s Next?
by Renee Jackson · The Cerbat GemIngles Markets, Incorporated (NASDAQ:IMKTA – Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $87.00 and last traded at $85.69, with a volume of 24885 shares changing hands. The stock had previously closed at $84.90.
Wall Street Analysts Forecast Growth
IMKTA has been the topic of a number of research reports. Wall Street Zen raised Ingles Markets from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ingles Markets in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.
View Our Latest Research Report on IMKTA
Ingles Markets Stock Up 2.0%
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 firm has a market cap of $1.65 billion, a price-to-earnings ratio of 17.31 and a beta of 0.77. The business’s 50 day moving average price is $73.17 and its 200 day moving average price is $71.06.
Ingles Markets (NASDAQ:IMKTA – Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported $1.48 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 1.76% and a return on equity of 5.93%. The firm had revenue of $1.37 billion for the quarter.
Ingles Markets Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Thursday, January 8th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, January 8th. Ingles Markets’s dividend payout ratio (DPR) is 13.17%.
Institutional Trading of Ingles Markets
A number of hedge funds and other institutional investors have recently modified their holdings of IMKTA. Huntington National Bank raised its stake 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 purchasing an additional 455 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Ingles Markets during the 3rd quarter worth approximately $38,000. First Horizon Advisors Inc. raised its position in shares of Ingles Markets by 192.6% during the 2nd 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 period. Highlander Partners L.P. purchased a new stake in shares of Ingles Markets during the 4th quarter valued at approximately $45,000. Finally, Eastern Bank acquired a new position in Ingles Markets in the fourth quarter valued at approximately $48,000. 62.54% of the stock is owned by institutional investors and hedge funds.
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.