Ingles Markets, Incorporated (NASDAQ:IMKTA) Short Interest Update

Ingles Markets, Incorporated (NASDAQ:IMKTA) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 331,400 shares, a decline of 6.1% from the May 15th total of 352,900 shares. Based on an average daily trading volume, of 81,900 shares, the short-interest ratio is presently 4.0 days.

Analyst Upgrades and Downgrades

Separately, TheStreet cut shares of Ingles Markets from a “b” rating to a “c+” rating in a research note on Monday, February 26th.

Insider Buying and Selling

In other Ingles Markets news, Director Sharp Laura Ingle sold 4,000 shares of Ingles Markets stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $76.25, for a total value of $305,000.00. Following the completion of the transaction, the director now owns 20,700 shares of the company’s stock, valued at $1,578,375. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 12,000 shares of company stock worth $878,500. Insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On Ingles Markets

Several hedge funds have recently modified their holdings of IMKTA. Quadrant Capital Group LLC lifted its holdings in shares of Ingles Markets by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 735 shares of the company’s stock valued at $63,000 after acquiring an additional 170 shares during the period. Quest Partners LLC bought a new position in shares of Ingles Markets during the fourth quarter valued at $78,000. Russell Investments Group Ltd. lifted its holdings in shares of Ingles Markets by 3,487.5% during the first quarter. Russell Investments Group Ltd. now owns 2,583 shares of the company’s stock valued at $198,000 after acquiring an additional 2,511 shares during the period. Beacon Pointe Advisors LLC acquired a new stake in shares of Ingles Markets in the fourth quarter valued at $207,000. Finally, Leuthold Group LLC acquired a new stake in shares of Ingles Markets in the fourth quarter valued at $210,000. 62.54% of the stock is owned by institutional investors.

Ingles Markets Price Performance

NASDAQ IMKTA opened at $69.73 on Thursday. The stock’s 50-day moving average price is $72.40 and its two-hundred day moving average price is $77.77. The company has a current ratio of 3.20, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34. The company has a market cap of $1.32 billion, a PE ratio of 7.52 and a beta of 0.67. Ingles Markets has a 1 year low of $67.10 and a 1 year high of $89.59.

Ingles Markets (NASDAQ:IMKTA) last issued its earnings results on Thursday, May 9th. The company reported $1.68 earnings per share for the quarter. The company had revenue of $1.37 billion for the quarter. Ingles Markets had a return on equity of 11.97% and a net margin of 3.00%.

Ingles Markets Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Thursday, April 11th were issued a dividend of $0.165 per share. The ex-dividend date was Wednesday, April 10th. This represents a $0.66 annualized dividend and a yield of 0.95%. Ingles Markets’s dividend payout ratio (DPR) is presently 7.12%.

Ingles Markets Company Profile

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.