Ingles Markets (NASDAQ:IMKTA) Trading Down 6.4% – Here’s Why

Ingles Markets, Incorporated (NASDAQ:IMKTA)’s stock price traded down 6.4% on Friday . The company traded as low as $61.05 and last traded at $62.20. 39,120 shares were traded during trading, a decline of 63% from the average session volume of 106,908 shares. The stock had previously closed at $66.47.

Analyst Upgrades and Downgrades

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

Ingles Markets Stock Performance

The business’s fifty day moving average price is $66.52 and its 200-day moving average price is $69.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.45 and a current ratio of 2.89. The stock has a market cap of $1.21 billion, a PE ratio of 11.50 and a beta of 0.75.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 1.87% and a return on equity of 6.90%.

Ingles Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were given a dividend of $0.165 per share. The ex-dividend date was Friday, January 10th. This represents a $0.66 annualized dividend and a dividend yield of 1.03%. Ingles Markets’s dividend payout ratio (DPR) is 11.89%.

Institutional Trading of Ingles Markets

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Ingles Markets by 413.9% in the third quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock valued at $30,000 after buying an additional 327 shares during the last quarter. CWM LLC raised its stake in Ingles Markets by 75.5% in the 3rd quarter. CWM LLC now owns 760 shares of the company’s stock valued at $57,000 after purchasing an additional 327 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Ingles Markets in the 4th quarter valued at $96,000. Caprock Group LLC purchased a new stake in Ingles Markets in the 3rd quarter valued at $203,000. Finally, Captrust Financial Advisors purchased a new stake in Ingles Markets in the 3rd quarter valued at $206,000. 62.54% of the stock is currently owned by institutional investors.

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.