Ingles Markets (NASDAQ:IMKTA) Director Dwight Jacobs Buys 500 Shares of Stock

Ingles Markets, Incorporated (NASDAQ:IMKTA) Director Dwight Jacobs bought 500 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $88.07 per share, with a total value of $44,035.00. Following the acquisition, the director directly owned 500 shares in the company, valued at $44,035. The trade was a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Ingles Markets Price Performance

IMKTA stock opened at $87.36 on Friday. The business’s fifty day moving average price is $88.61 and its 200 day moving average price is $80.63. Ingles Markets, Incorporated has a 12-month low of $59.09 and a 12-month high of $95.62. The company has a current ratio of 3.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.66 billion, a PE ratio of 15.91 and a beta of 0.62.

Ingles Markets (NASDAQ:IMKTA) last released its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter. The company had revenue of $1.31 billion for the quarter. Ingles Markets had a net margin of 1.93% and a return on equity of 6.41%.

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, April 9th. Ingles Markets’s payout ratio is currently 12.02%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IMKTA shares. Weiss Ratings raised shares of Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 14th. Wall Street Zen lowered Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Ingles Markets currently has an average rating of “Buy”.

Hedge Funds Weigh In On Ingles Markets

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in Ingles Markets by 3.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,817 shares of the company’s stock worth $272,000 after buying an additional 144 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Ingles Markets by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,966 shares of the company’s stock worth $446,000 after acquiring an additional 157 shares during the period. Parallel Advisors LLC raised its holdings in Ingles Markets by 14.4% during the third quarter. Parallel Advisors LLC now owns 1,561 shares of the company’s stock worth $109,000 after purchasing an additional 197 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Ingles Markets by 4.2% during the second quarter. The Manufacturers Life Insurance Company now owns 5,163 shares of the company’s stock worth $327,000 after purchasing an additional 209 shares in the last quarter. Finally, Ballentine Partners LLC lifted its position in Ingles Markets by 4.0% in the fourth quarter. Ballentine Partners LLC now owns 5,643 shares of the company’s stock valued at $387,000 after purchasing an additional 217 shares during the period. 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.