Ingles Markets, Incorporated (NASDAQ:IMKTA) – Equities research analysts at Gabelli raised their FY2021 earnings per share estimates for shares of Ingles Markets in a research note issued on Monday. Gabelli analyst D. Witkowski now forecasts that the company will post earnings per share of $3.95 for the year, up from their prior forecast of $3.55.
A number of other brokerages have also recently issued reports on IMKTA. TheStreet upgraded Ingles Markets from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. BidaskClub cut Ingles Markets from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Zacks Investment Research upgraded Ingles Markets from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Wednesday.
Shares of Ingles Markets (NASDAQ:IMKTA) traded up $0.98 during trading hours on Wednesday, reaching $32.40. The company’s stock had a trading volume of 185,700 shares, compared to its average volume of 112,945. The stock has a market capitalization of $636.64, a PE ratio of 7.70, a price-to-earnings-growth ratio of 3.33 and a beta of 0.60. Ingles Markets has a 1-year low of $20.75 and a 1-year high of $48.35. The company has a quick ratio of 0.37, a current ratio of 1.81 and a debt-to-equity ratio of 1.59.
Ingles Markets (NASDAQ:IMKTA) last released its earnings results on Thursday, December 7th. The company reported $0.96 EPS for the quarter. The company had revenue of $1.09 billion during the quarter. Ingles Markets had a return on equity of 16.66% and a net margin of 2.11%.
Institutional investors have recently bought and sold shares of the business. Citigroup Inc. increased its holdings in shares of Ingles Markets by 353.3% in the 2nd quarter. Citigroup Inc. now owns 4,161 shares of the company’s stock worth $138,000 after purchasing an additional 3,243 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Ingles Markets in the 4th quarter worth $214,000. Raymond James & Associates bought a new stake in shares of Ingles Markets in the 4th quarter worth $251,000. Virginia Retirement Systems ET AL increased its holdings in shares of Ingles Markets by 42.0% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 9,800 shares of the company’s stock worth $252,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Ingles Markets in the 2nd quarter worth $264,000. 59.15% of the stock is owned by institutional investors and hedge funds.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Thursday, January 11th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Wednesday, January 10th. Ingles Markets’s payout ratio is 15.68%.
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About Ingles Markets
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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