Ingles Markets (NASDAQ:IMKTA) Sets New 52-Week Low at $72.70

Ingles Markets, Incorporated (NASDAQ:IMKTA) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $72.70 and last traded at $73.17, with a volume of 5448 shares. The stock had previously closed at $73.10.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. TheStreet downgraded shares of Ingles Markets from a “b” rating to a “c+” rating in a report on Monday, February 26th. StockNews.com lowered shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Friday, February 9th.

Ingles Markets Trading Up 0.0 %

The company has a quick ratio of 1.45, a current ratio of 3.22 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.39 billion, a P/E ratio of 7.53 and a beta of 0.60. The business has a fifty day moving average price of $75.36 and a 200 day moving average price of $80.08.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings results on Thursday, February 8th. The company reported $2.28 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 3.14% and a return on equity of 12.92%. The firm had revenue of $1.48 billion for the quarter.

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Thursday, April 11th were issued a $0.165 dividend. The ex-dividend date was Wednesday, April 10th. This represents a $0.66 annualized dividend and a dividend yield of 0.90%. Ingles Markets’s dividend payout ratio is currently 6.79%.

Insider Activity

In other news, Director Sharp Laura Ingle sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $76.00, for a total value of $152,000.00. Following the transaction, the director now owns 24,700 shares of the company’s stock, valued at $1,877,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 8,000 shares of company stock valued at $607,000 over the last ninety days. 23.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ingles Markets

Hedge funds and other institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC lifted its position in shares of Ingles Markets by 30.1% during the 4th quarter. Quadrant Capital Group LLC now owns 735 shares of the company’s stock valued at $63,000 after acquiring an additional 170 shares during the period. Quest Partners LLC bought a new position in Ingles Markets in the 4th quarter valued at about $78,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ingles Markets by 51.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,540 shares of the company’s stock valued at $191,000 after buying an additional 863 shares during the period. Beacon Pointe Advisors LLC acquired a new position in shares of Ingles Markets in the 4th quarter valued at approximately $207,000. Finally, Leuthold Group LLC bought a new stake in shares of Ingles Markets during the 4th quarter worth approximately $210,000. Institutional investors and hedge funds own 62.54% of the company’s stock.

About Ingles Markets

Ingles Markets, Incorporated, together with its subsidiaries, operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.