Ingles Markets (NASDAQ:IMKTA) Announces Earnings Results

Ingles Markets (NASDAQ:IMKTA) issued its quarterly earnings results on Thursday. The company reported $1.28 EPS for the quarter, FiscalAI reports. The firm had revenue of $1.31 billion during the quarter. Ingles Markets had a return on equity of 6.45% and a net margin of 1.93%.

Ingles Markets Stock Up 1.0%

IMKTA traded up $0.82 on Friday, reaching $86.60. The company’s stock had a trading volume of 98,640 shares, compared to its average volume of 131,166. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.36 and a quick ratio of 1.69. The business’s 50 day moving average is $88.45 and its 200 day moving average is $79.60. Ingles Markets has a 1 year low of $59.09 and a 1 year high of $95.62. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 15.77 and a beta of 0.62.

Ingles Markets Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Thursday, April 9th were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. Ingles Markets’s dividend payout ratio is currently 12.02%.

Analyst Ratings Changes

Separately, Wall Street Zen raised Ingles Markets from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Institutional Investors Weigh In On Ingles Markets

Institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in Ingles Markets by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,966 shares of the company’s stock worth $446,000 after purchasing an additional 157 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ingles Markets by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 916,178 shares of the company’s stock worth $82,356,000 after purchasing an additional 2,816 shares during the period. Watershed Asset Management L.L.C. acquired a new stake in shares of Ingles Markets during the first quarter worth $443,000. Bank of New York Mellon Corp lifted its position in shares of Ingles Markets by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 97,978 shares of the company’s stock worth $8,807,000 after buying an additional 1,260 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its position in shares of Ingles Markets by 126.5% in the 1st quarter. Sanctuary Advisors LLC now owns 17,090 shares of the company’s stock worth $1,536,000 after buying an additional 9,546 shares during the last quarter. 62.54% of the stock is owned by institutional investors and hedge funds.

Ingles Markets Company Profile

Ingles Markets, Inc (NASDAQ: IMKTA) is a family‐owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.

In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.