Ingles Markets (NASDAQ:IMKTA) Share Price Crosses Above 200-Day Moving Average – Time to Sell?
by Mitch Edgeman · The Markets DailyIngles Markets, Incorporated (NASDAQ:IMKTA – Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $81.60 and traded as high as $90.08. Ingles Markets shares last traded at $87.36, with a volume of 189,134 shares.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings downgraded shares of Ingles Markets from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.
View Our Latest Stock Analysis on IMKTA
Ingles Markets Price Performance
The company’s 50-day moving average is $89.21 and its 200-day moving average is $81.76. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.34 and a quick ratio of 1.77. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 16.60 and a beta of 0.60.
Ingles Markets (NASDAQ:IMKTA – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 1.93% and a return on equity of 6.41%. The business had revenue of $1.31 billion for the quarter.
Ingles Markets Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Thursday, April 9th were given a $0.165 dividend. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $0.66 annualized dividend and a dividend yield of 0.7%. Ingles Markets’s dividend payout ratio (DPR) is currently 12.02%.
Insiders Place Their Bets
In other Ingles Markets news, Director Dwight L. Jacobs purchased 500 shares of Ingles Markets stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $88.07 per share, with a total value of $44,035.00. Following the completion of the transaction, the director directly owned 500 shares in the company, valued at approximately $44,035. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.80% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Global Trust Asset Management LLC acquired a new position in Ingles Markets during the first quarter valued at approximately $38,000. Highlander Partners L.P. acquired a new position in Ingles Markets during the fourth quarter valued at approximately $45,000. Eastern Bank acquired a new position in Ingles Markets during the fourth quarter valued at approximately $48,000. Torren Management LLC acquired a new position in Ingles Markets during the fourth quarter valued at approximately $51,000. Finally, Huntington National Bank lifted its position in Ingles Markets by 63.1% during the fourth quarter. Huntington National Bank now owns 778 shares of the company’s stock valued at $53,000 after buying an additional 301 shares in the last quarter. 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.