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

Ingles Markets, Incorporated (NASDAQ:IMKTA) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 709,200 shares, an increase of 20.5% from the October 31st total of 588,400 shares. Based on an average trading volume of 146,300 shares, the short-interest ratio is currently 4.8 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 21st.

Institutional Trading of Ingles Markets

Several hedge funds have recently modified their holdings of IMKTA. CWM LLC increased its position in Ingles Markets by 240.9% in the second quarter. CWM LLC now owns 433 shares of the company’s stock worth $30,000 after purchasing an additional 306 shares during the period. GAMMA Investing LLC boosted its stake in shares of Ingles Markets by 413.9% in the 3rd quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock valued at $30,000 after purchasing an additional 327 shares during the last quarter. Signaturefd LLC grew its position in shares of Ingles Markets by 101.0% during the 2nd quarter. Signaturefd LLC now owns 1,003 shares of the company’s stock worth $69,000 after buying an additional 504 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Ingles Markets during the second quarter worth approximately $69,000. Finally, Innealta Capital LLC acquired a new position in Ingles Markets in the second quarter valued at approximately $74,000. 62.54% of the stock is owned by institutional investors.

Ingles Markets Stock Performance

Ingles Markets stock opened at $72.91 on Tuesday. Ingles Markets has a 12-month low of $59.73 and a 12-month high of $89.59. The stock has a 50-day simple moving average of $67.66 and a 200 day simple moving average of $70.87. The company has a quick ratio of 1.49, a current ratio of 2.99 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 8.68 and a beta of 0.72.

Ingles Markets Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 10th were given a dividend of $0.165 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.91%. Ingles Markets’s payout ratio is 7.86%.

About Ingles Markets

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.