Ingles Markets (NASDAQ:IMKTA) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Ingles Markets (NASDAQ:IMKTA) from a buy rating to a hold rating in a research note released on Monday morning.

Ingles Markets Stock Performance

NASDAQ IMKTA opened at $64.24 on Monday. The company’s 50 day simple moving average is $66.03 and its two-hundred day simple moving average is $68.86. 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 has a 1 year low of $59.73 and a 1 year high of $82.01. The stock has a market capitalization of $1.22 billion, a PE ratio of 15.52 and a beta of 0.75.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter. Ingles Markets had a return on equity of 5.11% and a net margin of 1.45%.

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 given 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 yield of 1.03%. Ingles Markets’s payout ratio is 15.94%.

Institutional Trading of Ingles Markets

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Ingles Markets by 413.9% in the 3rd quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock worth $30,000 after purchasing an additional 327 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Ingles Markets during the fourth quarter valued at about $30,000. CWM LLC increased its holdings in shares of Ingles Markets by 75.5% in the third quarter. CWM LLC now owns 760 shares of the company’s stock worth $57,000 after buying an additional 327 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Ingles Markets in the 4th quarter valued at about $96,000. Finally, Caprock Group LLC purchased a new stake in Ingles Markets during the 3rd quarter valued at about $203,000. Institutional investors own 62.54% of the company’s stock.

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.