Ingles Markets (IMKTA) Downgraded to “Hold” at BidaskClub

BidaskClub lowered shares of Ingles Markets (NASDAQ:IMKTA) from a buy rating to a hold rating in a report published on Wednesday.

A number of other research analysts have also recently weighed in on IMKTA. Zacks Investment Research upgraded shares of Ingles Markets from a strong sell rating to a hold rating in a research note on Wednesday, October 4th. TheStreet raised shares of Ingles Markets from a c+ rating to a b- rating in a research report on Tuesday, December 26th.

Ingles Markets (NASDAQ IMKTA) opened at $33.60 on Wednesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.82 and a quick ratio of 0.39. The firm has a market cap of $695.90, a PE ratio of 12.63, a price-to-earnings-growth ratio of 3.77 and a beta of 0.73. Ingles Markets has a 52 week low of $20.75 and a 52 week high of $48.35.

Ingles Markets (NASDAQ:IMKTA) last released its earnings results on Thursday, December 7th. The company reported $0.96 earnings per share for the quarter. The firm had revenue of $1.09 billion for the quarter. Ingles Markets had a net margin of 1.35% and a return on equity of 10.92%. equities research analysts anticipate that Ingles Markets will post 2.85 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Stockholders of record on Thursday, January 11th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Wednesday, January 10th. Ingles Markets’s dividend payout ratio (DPR) is currently 24.81%.

Several hedge funds and other institutional investors have recently bought and sold shares of IMKTA. The Manufacturers Life Insurance Company increased its holdings in Ingles Markets by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,648 shares of the company’s stock worth $388,000 after acquiring an additional 450 shares during the period. Teachers Advisors LLC grew its stake in Ingles Markets by 2.7% in the 2nd quarter. Teachers Advisors LLC now owns 25,003 shares of the company’s stock worth $833,000 after buying an additional 659 shares in the last quarter. Voya Investment Management LLC grew its stake in Ingles Markets by 11.7% in the 2nd quarter. Voya Investment Management LLC now owns 8,252 shares of the company’s stock worth $275,000 after buying an additional 864 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Ingles Markets by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,092 shares of the company’s stock worth $4,299,000 after buying an additional 1,974 shares in the last quarter. Finally, Baker Ellis Asset Management LLC grew its stake in Ingles Markets by 6.7% in the 3rd quarter. Baker Ellis Asset Management LLC now owns 39,541 shares of the company’s stock worth $1,016,000 after buying an additional 2,480 shares in the last quarter. 59.50% of the stock is currently owned by institutional investors.

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Ingles Markets Company Profile

Ingles Markets, Incorporated (Ingles) is a supermarket chain in the southeast United States. The Company’s segments include retail grocery and other. Its other segment consists of fluid dairy operations and shopping center rentals. As of September 24, 2016, the Company operated 201 supermarkets in Georgia, North Carolina, South Carolina, Tennessee, Virginia and Alabama.

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