Ingles Markets (NASDAQ:IMKTA) Reaches New 12-Month Low at $66.78

Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) reached a new 52-week low during trading on Wednesday . The stock traded as low as $66.78 and last traded at $66.79, with a volume of 116987 shares trading hands. The stock had previously closed at $69.31.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 21st.

Ingles Markets Price Performance

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 company’s 50 day moving average is $73.87 and its 200 day moving average is $73.08. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 7.43 and a beta of 0.70.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.67 EPS for the quarter. Ingles Markets had a net margin of 2.74% and a return on equity of 10.58%. The business had revenue of $1.39 billion for the quarter.

Ingles Markets Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, October 10th will be given a dividend of $0.165 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.66 annualized dividend and a yield of 1.00%. Ingles Markets’s dividend payout ratio is 7.12%.

Institutional Investors Weigh In On Ingles Markets

Several institutional investors and hedge funds have recently bought and sold shares of IMKTA. Brandes Investment Partners LP lifted its holdings in shares of Ingles Markets by 111.0% in the second quarter. Brandes Investment Partners LP now owns 196,753 shares of the company’s stock worth $13,480,000 after acquiring an additional 103,507 shares during the last quarter. Systematic Financial Management LP lifted its holdings in shares of Ingles Markets by 103.1% in the second quarter. Systematic Financial Management LP now owns 181,564 shares of the company’s stock worth $12,457,000 after acquiring an additional 92,164 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Ingles Markets by 9.5% in the second quarter. American Century Companies Inc. now owns 369,184 shares of the company’s stock worth $25,330,000 after acquiring an additional 32,013 shares during the last quarter. Denali Advisors LLC lifted its holdings in shares of Ingles Markets by 40.6% in the second quarter. Denali Advisors LLC now owns 92,102 shares of the company’s stock worth $6,319,000 after acquiring an additional 26,607 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Ingles Markets in the fourth quarter worth about $1,574,000. Institutional investors own 62.54% of the company’s stock.

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.