Ingles Markets, Incorporated (NASDAQ:IMKTA) Short Interest Update

Ingles Markets, Incorporated (NASDAQ:IMKTA) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 727,200 shares, a growth of 7.6% from the December 15th total of 675,600 shares. Based on an average daily trading volume, of 140,600 shares, the days-to-cover ratio is presently 5.2 days.

Ingles Markets Stock Down 1.9 %

IMKTA opened at $63.07 on Monday. The company has a 50 day moving average of $68.23 and a 200 day moving average of $69.84. Ingles Markets has a 12 month low of $59.73 and a 12 month high of $86.16. The company has a market cap of $1.20 billion, a PE ratio of 11.36 and a beta of 0.76. The company has a current ratio of 2.89, a quick ratio of 1.45 and a debt-to-equity ratio of 0.33.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings data on Friday, December 27th. The company reported ($0.08) earnings per share (EPS) for the quarter. Ingles Markets had a return on equity of 6.90% and a net margin of 1.87%.

Ingles Markets Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were issued a dividend of $0.165 per share. The ex-dividend date was Friday, January 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.05%. Ingles Markets’s dividend payout ratio is currently 11.89%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. River Road Asset Management LLC raised its position in shares of Ingles Markets by 7.1% in the 3rd quarter. River Road Asset Management LLC now owns 971,026 shares of the company’s stock worth $72,439,000 after acquiring an additional 64,296 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Ingles Markets by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 405,558 shares of the company’s stock valued at $30,255,000 after buying an additional 31,027 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Ingles Markets by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 399,190 shares of the company’s stock valued at $29,785,000 after buying an additional 14,264 shares in the last quarter. Gabelli Funds LLC grew its position in shares of Ingles Markets by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 376,100 shares of the company’s stock worth $25,804,000 after buying an additional 1,000 shares during the period. Finally, Brandes Investment Partners LP grew its position in shares of Ingles Markets by 111.0% in the 2nd quarter. Brandes Investment Partners LP now owns 196,753 shares of the company’s stock worth $13,480,000 after buying an additional 103,507 shares during the period. 62.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Ingles Markets from a “hold” rating to a “buy” rating in a research note on Monday, December 30th.

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.