Ingles Markets (NASDAQ:IMKTA) Reaches New 12-Month Low at $72.01

Ingles Markets, Incorporated (NASDAQ:IMKTA)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $72.01 and last traded at $72.24, with a volume of 13525 shares. The stock had previously closed at $73.28.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IMKTA shares. StockNews.com downgraded shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 9th. TheStreet downgraded shares of Ingles Markets from a “b” rating to a “c+” rating in a research report on Monday, February 26th.

Ingles Markets Price Performance

The company’s 50 day moving average price is $74.90 and its 200-day moving average price is $79.83. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 7.40 and a beta of 0.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.45 and a current ratio of 3.22.

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

Ingles Markets Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Thursday, April 11th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Wednesday, April 10th. Ingles Markets’s dividend payout ratio (DPR) is currently 6.79%.

Insider Buying and Selling

In related news, Director Sharp Laura Ingle sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $76.00, for a total transaction of $152,000.00. Following the completion of the sale, the director now directly owns 24,700 shares in the company, valued at $1,877,200. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 8,000 shares of company stock worth $607,000. 23.10% of the stock is owned by company insiders.

Institutional Trading of Ingles Markets

Institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its position in shares of Ingles Markets by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 735 shares of the company’s stock valued at $63,000 after purchasing an additional 170 shares during the period. Quest Partners LLC bought a new position in Ingles Markets during the fourth quarter worth $78,000. Beacon Pointe Advisors LLC bought a new position in Ingles Markets during the fourth quarter worth $207,000. Leuthold Group LLC bought a new stake in Ingles Markets in the 4th quarter valued at $210,000. Finally, Sapient Capital LLC bought a new stake in Ingles Markets in the 4th quarter valued at $216,000. 62.54% of the stock is currently owned by institutional investors and hedge funds.

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.