Ingles Markets (NASDAQ:IMKTA) Issues Earnings Results

Ingles Markets (NASDAQ:IMKTA) announced its quarterly earnings results on Thursday. The company reported $1.48 earnings per share (EPS) for the quarter, Zacks reports. Ingles Markets had a return on equity of 5.27% and a net margin of 1.57%.

Ingles Markets Stock Up 0.7%

NASDAQ:IMKTA traded up $0.60 on Thursday, hitting $83.88. The stock had a trading volume of 43,744 shares, compared to its average volume of 120,746. Ingles Markets has a 1 year low of $58.92 and a 1 year high of $84.90. The firm’s fifty day simple moving average is $72.29 and its two-hundred day simple moving average is $70.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.63 and a current ratio of 3.22. The stock has a market cap of $1.59 billion, a P/E ratio of 19.06 and a beta of 0.77.

Ingles Markets Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Thursday, January 8th were paid a $0.165 dividend. The ex-dividend date was Thursday, January 8th. This represents a $0.66 annualized dividend and a yield of 0.8%. Ingles Markets’s dividend payout ratio (DPR) is 15.00%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on IMKTA shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Ingles Markets in a research report on Monday, December 29th. Wall Street Zen raised shares of Ingles Markets from a “hold” rating to a “buy” rating in a research note on Saturday, November 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Ingles Markets has a consensus rating of “Hold”.

Institutional Trading of Ingles Markets

Hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP grew its stake in Ingles Markets by 23.2% in the 3rd quarter. Two Sigma Investments LP now owns 145,510 shares of the company’s stock valued at $10,122,000 after purchasing an additional 27,403 shares during the period. UBS Group AG boosted its holdings in shares of Ingles Markets by 167.3% in the 3rd quarter. UBS Group AG now owns 102,333 shares of the company’s stock worth $7,118,000 after buying an additional 64,049 shares during the last quarter. Invesco Ltd. grew its position in Ingles Markets by 82.4% during the second quarter. Invesco Ltd. now owns 81,300 shares of the company’s stock valued at $5,153,000 after buying an additional 36,727 shares during the period. Bank of America Corp DE grew its position in Ingles Markets by 0.7% during the third quarter. Bank of America Corp DE now owns 61,083 shares of the company’s stock valued at $4,249,000 after buying an additional 452 shares during the period. Finally, Raymond James Financial Inc. increased its holdings in Ingles Markets by 1.3% during the third quarter. Raymond James Financial Inc. now owns 54,997 shares of the company’s stock worth $3,826,000 after buying an additional 685 shares during the last quarter. 62.54% of the stock is currently owned by 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.