Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) have received an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.
Brokers have set a twelve-month consensus target price of $64.00 for the company, according to Zacks. Zacks has also assigned Ingles Markets an industry rank of 85 out of 256 based on the ratings given to related companies.
Several equities analysts have recently weighed in on IMKTA shares. ValuEngine upgraded shares of XCel Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Finally, BidaskClub cut shares of Weyco Group from a “sell” rating to a “strong sell” rating in a report on Saturday, July 13th.
Shares of IMKTA stock traded up $0.64 during trading hours on Friday, reaching $31.77. The stock had a trading volume of 37,888 shares, compared to its average volume of 53,224. The company has a quick ratio of 0.46, a current ratio of 1.94 and a debt-to-equity ratio of 1.35. Ingles Markets has a twelve month low of $25.57 and a twelve month high of $37.65. The company’s 50-day simple moving average is $31.48. The company has a market cap of $630.66 million, a price-to-earnings ratio of 6.60, a PEG ratio of 1.14 and a beta of 0.48.
Ingles Markets (NASDAQ:IMKTA) last released its earnings results on Wednesday, May 8th. The company reported $0.74 EPS for the quarter. The firm had revenue of $1 billion for the quarter. Ingles Markets had a net margin of 1.93% and a return on equity of 12.26%. Analysts predict that Ingles Markets will post 3.4 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Thursday, July 11th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Wednesday, July 10th. Ingles Markets’s payout ratio is 13.72%.
In other Ingles Markets news, Director Sharp Laura Ingle sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $31.06, for a total value of $155,300.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $465,900. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 29.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Ingles Markets by 4.4% during the fourth quarter. BlackRock Inc. now owns 1,103,946 shares of the company’s stock valued at $30,050,000 after acquiring an additional 46,530 shares in the last quarter. Stone Ridge Asset Management LLC raised its position in Ingles Markets by 12.4% during the fourth quarter. Stone Ridge Asset Management LLC now owns 15,953 shares of the company’s stock valued at $434,000 after acquiring an additional 1,761 shares in the last quarter. Brandywine Global Investment Management LLC raised its position in Ingles Markets by 5.3% during the fourth quarter. Brandywine Global Investment Management LLC now owns 7,570 shares of the company’s stock valued at $207,000 after acquiring an additional 380 shares in the last quarter. Investors Research Corp bought a new position in Ingles Markets during the first quarter valued at approximately $30,000. Finally, BNP Paribas Arbitrage SA raised its position in Ingles Markets by 49,133.3% during the first quarter. BNP Paribas Arbitrage SA now owns 2,954 shares of the company’s stock valued at $82,000 after acquiring an additional 2,948 shares in the last quarter. Institutional investors and hedge funds own 62.55% of the company’s stock.
Ingles Markets Company Profile
Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. Its supermarkets offer various food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, such as fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.
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