Ingles Markets (NASDAQ:IMKTA) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Ingles Markets, Incorporated (NASDAQ:IMKTA)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $74.72 and traded as high as $88.42. Ingles Markets shares last traded at $87.00, with a volume of 108,706 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Ingles Markets in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Ingles Markets from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Ingles Markets Trading Down 3.1%

The firm has a market cap of $1.60 billion, a PE ratio of 16.85 and a beta of 0.74. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.36 and a quick ratio of 1.69. The business has a 50-day moving average price of $80.90 and a two-hundred day moving average price of $74.92.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings results on Thursday, February 5th. The company reported $1.48 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 1.76% and a return on equity of 5.93%. The company had revenue of $1.37 billion for the quarter.

Ingles Markets Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Thursday, January 8th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, January 8th. Ingles Markets’s dividend payout ratio is 13.17%.

Institutional Trading of Ingles Markets

Several institutional investors and hedge funds have recently made changes to their positions in IMKTA. State of Alaska Department of Revenue acquired a new position in Ingles Markets in the 3rd quarter valued at about $38,000. Highlander Partners L.P. purchased a new stake in shares of Ingles Markets during the fourth quarter worth about $45,000. Eastern Bank acquired a new position in shares of Ingles Markets in the fourth quarter valued at approximately $48,000. Torren Management LLC purchased a new position in shares of Ingles Markets during the fourth quarter valued at approximately $51,000. Finally, Huntington National Bank raised its holdings in Ingles Markets by 63.1% in the 4th quarter. Huntington National Bank now owns 778 shares of the company’s stock valued at $53,000 after acquiring an additional 301 shares during the last quarter. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

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.