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

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

Institutional Trading of Ingles Markets

Hedge funds and other institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund lifted its stake in shares of Ingles Markets by 4.6% during the 4th quarter. New York State Common Retirement Fund now owns 34,020 shares of the company’s stock valued at $2,192,000 after buying an additional 1,500 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Ingles Markets by 40.8% in the fourth quarter. Sanctuary Advisors LLC now owns 15,579 shares of the company’s stock valued at $1,044,000 after acquiring an additional 4,515 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its position in shares of Ingles Markets by 2.1% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 7,443 shares of the company’s stock valued at $480,000 after acquiring an additional 150 shares in the last quarter. Polaris Capital Management LLC boosted its stake in shares of Ingles Markets by 24.7% in the fourth quarter. Polaris Capital Management LLC now owns 32,800 shares of the company’s stock worth $2,114,000 after acquiring an additional 6,500 shares during the period. Finally, Empowered Funds LLC grew its position in shares of Ingles Markets by 13.1% during the fourth quarter. Empowered Funds LLC now owns 104,366 shares of the company’s stock worth $6,725,000 after purchasing an additional 12,084 shares in the last quarter. 62.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Ingles Markets Trading Down 0.2 %

NASDAQ:IMKTA opened at $66.09 on Tuesday. Ingles Markets has a one year low of $59.73 and a one year high of $82.77. The business has a fifty day moving average price of $67.11 and a 200-day moving average price of $69.41. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 11.91 and a beta of 0.76. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.89 and a quick ratio of 1.45.

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

Ingles Markets Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.00%. The ex-dividend date was Friday, January 10th. Ingles Markets’s dividend payout ratio is currently 11.89%.

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.