Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Zacks has also given Ingles Markets an industry rank of 79 out of 265 based on the ratings given to its competitors.
IMKTA has been the topic of a number of research analyst reports. TheStreet upgraded shares of Ingles Markets from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. BidaskClub upgraded shares of Ingles Markets from a “hold” rating to a “buy” rating in a research note on Tuesday, December 12th. Finally, 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.
Ingles Markets (NASDAQ IMKTA) traded down $0.65 on Friday, hitting $33.75. 107,739 shares of the stock were exchanged, compared to its average volume of 126,495. Ingles Markets has a one year low of $20.75 and a one year high of $48.80. The company has a current ratio of 1.82, a quick ratio of 0.39 and a debt-to-equity ratio of 1.69. The firm has a market cap of $696.91, a P/E ratio of 12.69, a P/E/G ratio of 3.77 and a beta of 0.73.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, January 11th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, January 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.96%. Ingles Markets’s payout ratio is currently 24.81%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gamco Investors INC. ET AL raised its holdings in Ingles Markets by 4.0% in the 3rd quarter. Gamco Investors INC. ET AL now owns 1,266,402 shares of the company’s stock valued at $32,547,000 after buying an additional 48,893 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Ingles Markets by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,184,752 shares of the company’s stock valued at $30,448,000 after buying an additional 3,984 shares during the last quarter. Vanguard Group Inc. raised its holdings in Ingles Markets by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,032,352 shares of the company’s stock valued at $34,378,000 after buying an additional 33,192 shares during the last quarter. Gabelli Funds LLC raised its holdings in Ingles Markets by 0.4% in the 3rd quarter. Gabelli Funds LLC now owns 934,600 shares of the company’s stock valued at $24,019,000 after buying an additional 4,000 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in Ingles Markets in the 3rd quarter valued at approximately $11,931,000. Institutional investors and hedge funds own 59.40% of the company’s stock.
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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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