Ingles Markets Inc. (NASDAQ:IMKTA) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Zacks has also assigned Ingles Markets an industry rank of 236 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded shares of Ingles Markets from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th.
Several institutional investors have recently made changes to their positions in the stock. Societe Generale acquired a new stake in Ingles Markets during the second quarter worth $101,000. SG Americas Securities LLC acquired a new stake in Ingles Markets during the second quarter worth $101,000. Emerald Acquisition Ltd. acquired a new stake in Ingles Markets during the second quarter worth $113,000. Carroll Financial Associates Inc. raised its stake in Ingles Markets by 83.3% in the second quarter. Carroll Financial Associates Inc. now owns 3,300 shares of the company’s stock worth $123,000 after buying an additional 1,500 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Ingles Markets by 355.0% in the second quarter. BlackRock Inc. now owns 3,922 shares of the company’s stock worth $146,000 after buying an additional 3,060 shares in the last quarter. Hedge funds and other institutional investors own 61.59% of the company’s stock.
Shares of Ingles Markets (NASDAQ:IMKTA) opened at 38.95 on Tuesday. Ingles Markets has a 52 week low of $31.77 and a 52 week high of $57.68. The company has a 50-day moving average of $38.48 and a 200 day moving average of $37.69. The firm has a market capitalization of $789.09 million, a P/E ratio of 14.03 and a beta of 0.68.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, October 6th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $0.66 annualized dividend and a dividend yield of 1.69%. Ingles Markets’s dividend payout ratio is currently 23.74%.
About Ingles Markets
Ingles Markets, Incorporated is a supermarket chain. The Company operates approximately 70 supermarkets in Georgia, approximately 70 in North Carolina, approximately 40 in South Carolina, over 20 in Tennessee, approximately two in Virginia and approximately one in Alabama. The Company operates through retail grocery sales segment.
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