Ingles Markets (NASDAQ:IMKTA) Trading Down 5.1% – What’s Next?

Ingles Markets, Incorporated (NASDAQ:IMKTA) shares fell 5.1% during mid-day trading on Wednesday . The stock traded as low as $70.61 and last traded at $70.28. 43,161 shares were traded during trading, a decline of 63% from the average session volume of 115,837 shares. The stock had previously closed at $74.06.

Wall Street Analyst Weigh In

IMKTA has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Ingles Markets in a research report on Monday. Wall Street Zen raised Ingles Markets from a “hold” rating to a “buy” rating in a research report on Saturday, November 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Ingles Markets Price Performance

The company has a current ratio of 3.22, a quick ratio of 1.63 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $1.34 billion, a P/E ratio of 16.08 and a beta of 0.76. The company has a 50 day moving average price of $73.32 and a 200 day moving average price of $68.09.

Ingles Markets Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Thursday, October 9th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, October 9th. Ingles Markets’s dividend payout ratio (DPR) is currently 15.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers acquired a new stake in shares of Ingles Markets in the first quarter valued at approximately $242,000. Vanguard Group Inc. raised its holdings in Ingles Markets by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 1,257,669 shares of the company’s stock valued at $81,912,000 after acquiring an additional 22,970 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Ingles Markets by 9.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 497,217 shares of the company’s stock valued at $32,384,000 after acquiring an additional 43,659 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Ingles Markets during the 1st quarter valued at $309,000. Finally, Nuveen LLC acquired a new stake in shares of Ingles Markets during the 1st quarter worth $2,355,000. Institutional investors and hedge funds own 62.54% of the company’s stock.

Ingles Markets Company Profile

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.